Metis Global Partners LLC Increases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Metis Global Partners LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,144 shares of the transportation company’s stock after acquiring an additional 423 shares during the quarter. Metis Global Partners LLC’s holdings in Old Dominion Freight Line were worth $2,105,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $35,000. State of Wyoming purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $42,000. Harbour Investments Inc. boosted its stake in shares of Old Dominion Freight Line by 184.4% in the first quarter. Harbour Investments Inc. now owns 128 shares of the transportation company’s stock worth $44,000 after acquiring an additional 83 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Old Dominion Freight Line by 275.8% in the second quarter. China Universal Asset Management Co. Ltd. now owns 124 shares of the transportation company’s stock worth $46,000 after acquiring an additional 91 shares during the last quarter. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Old Dominion Freight Line in the second quarter worth approximately $47,000. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 24,100 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $390.59, for a total transaction of $9,413,219.00. Following the sale, the chairman now owns 766,754 shares in the company, valued at approximately $299,486,444.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 24,100 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $390.59, for a total transaction of $9,413,219.00. Following the sale, the chairman now owns 766,754 shares in the company, valued at approximately $299,486,444.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $390.15, for a total value of $4,681,800.00. Following the sale, the chairman now owns 801,004 shares in the company, valued at approximately $312,511,710.60. The disclosure for this sale can be found here. 10.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

ODFL has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $505.00 to $435.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Morgan Stanley boosted their price objective on Old Dominion Freight Line from $358.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Susquehanna raised Old Dominion Freight Line from a “neutral” rating to a “positive” rating in a research note on Monday, January 8th. StockNews.com started coverage on Old Dominion Freight Line in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the company from $475.00 to $386.00 in a research note on Monday, November 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $395.89.

View Our Latest Report on ODFL

Old Dominion Freight Line Price Performance

ODFL stock opened at $395.87 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $43.19 billion, a PE ratio of 35.22, a P/E/G ratio of 3.97 and a beta of 1.02. Old Dominion Freight Line, Inc. has a 12-month low of $295.80 and a 12-month high of $438.05. The business’s fifty day moving average price is $393.84 and its 200 day moving average price is $401.27.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be issued a dividend of $0.52 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio is 14.23%.

About Old Dominion Freight Line

(Free Report)

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

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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