Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Decreased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,695 shares of the transportation company’s stock after selling 256 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Old Dominion Freight Line were worth $4,905,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ODFL. Sequoia Financial Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Old Dominion Freight Line by 98.6% in the first quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after purchasing an additional 21,438 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Old Dominion Freight Line by 85.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company’s stock worth $47,041,000 after acquiring an additional 99,228 shares in the last quarter. Finally, Ground Swell Capital LLC raised its holdings in shares of Old Dominion Freight Line by 262.6% during the third quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock worth $1,331,000 after acquiring an additional 4,853 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction 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 trade represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock valued at $10,062,478 over the last three months. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $7.86 during midday trading on Friday, hitting $215.57. The company’s stock had a trading volume of 1,683,188 shares, compared to its average volume of 1,550,592. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99. The stock’s 50 day simple moving average is $201.32 and its 200 day simple moving average is $191.23. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. 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 (NASDAQ:ODFL) last released 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 return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. TD Cowen cut their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Barclays increased 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. Susquehanna cut their price objective on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.