Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,301 shares of the transportation company’s stock after selling 55,419 shares during the period. BNP Paribas Financial Markets’ holdings in Old Dominion Freight Line were worth $57,268,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Avestar Capital LLC acquired a new position in Old Dominion Freight Line in the third quarter valued at approximately $223,000. Brooklyn Investment Group lifted its holdings in Old Dominion Freight Line by 10.8% in the third quarter. Brooklyn Investment Group now owns 1,163 shares of the transportation company’s stock valued at $231,000 after acquiring an additional 113 shares during the last quarter. Partners Group Holding AG lifted its holdings in Old Dominion Freight Line by 227.4% in the third quarter. Partners Group Holding AG now owns 116,954 shares of the transportation company’s stock valued at $23,232,000 after acquiring an additional 81,230 shares during the last quarter. Bank of Montreal Can lifted its holdings in Old Dominion Freight Line by 0.4% in the third quarter. Bank of Montreal Can now owns 296,448 shares of the transportation company’s stock valued at $58,314,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ODFL. Stephens reiterated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, September 5th. TD Cowen cut their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets cut their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their target price for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Finally, Argus lowered 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, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.41.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $224.11 on Thursday. The firm has a market capitalization of $47.85 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. The business’s fifty day moving average price is $205.13 and its 200 day moving average price is $193.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently announced 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. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) 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.