OneAscent Financial Services LLC Purchases New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

OneAscent Financial Services LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,919 shares of the transportation company’s stock, valued at approximately $381,000.

Several other hedge funds have also added to or reduced their stakes in ODFL. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter valued at $25,000. Atwood & Palmer Inc. grew its position in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth about $38,000. Versant Capital Management Inc grew its position in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. Finally, LRI Investments LLC boosted its stake in Old Dominion Freight Line by 73.1% during the second 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. 77.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Stock Down 0.7 %

Shares of ODFL opened at $213.99 on Tuesday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $45.69 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 4.51 and a beta of 0.99. The stock’s 50-day moving average price is $201.81 and its 200-day moving average price is $191.58.

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

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Old Dominion Freight Line’s payout ratio is 18.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ODFL shares. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Barclays raised their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Susquehanna cut their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Evercore ISI cut their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Finally, Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $200.00.

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.