MetLife Investment Management LLC Has $11.54 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

MetLife Investment Management LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 58,116 shares of the transportation company’s stock after purchasing an additional 1,157 shares during the period. MetLife Investment Management LLC’s holdings in Old Dominion Freight Line were worth $11,544,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new position in shares of Old Dominion Freight Line during the second quarter worth approximately $25,000. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares in the last quarter. LRI Investments LLC boosted its position in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 189 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. Bank of America cut their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the company from $209.00 to $197.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $200.41.

Old Dominion Freight Line Stock Down 0.8 %

Old Dominion Freight Line stock opened at $224.11 on Friday. The company has a 50 day moving average of $205.67 and a 200-day moving average of $193.32. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock has a market capitalization of $47.85 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 4.69 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $1.54 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.