Tidal Investments LLC Has $1.80 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Tidal Investments LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 9,078 shares of the transportation company’s stock after selling 464 shares during the quarter. Tidal Investments LLC’s holdings in Old Dominion Freight Line were worth $1,803,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line during the second quarter worth $25,000. LRI Investments LLC raised its holdings 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 worth $33,000 after buying an additional 79 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line during the third quarter worth $45,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $198.98 on Wednesday. The firm has a market cap of $42.48 billion, a P/E ratio of 34.79, a PEG ratio of 4.21 and a beta of 1.00. The firm has a 50-day moving average of $209.48 and a 200 day moving average of $196.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.52%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Bank of America lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Susquehanna reduced their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $204.00.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated 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 in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated 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. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

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.