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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of ODFL. Ontario Teachers Pension Plan Board boosted its holdings in shares of Old Dominion Freight Line by 148.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 3,636 shares of the transportation company’s stock worth $797,000 after buying an additional 2,171 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Old Dominion Freight Line by 124.6% during the 1st quarter. Covestor Ltd now owns 649 shares of the transportation company’s stock worth $142,000 after buying an additional 360 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Old Dominion Freight Line by 106.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,208 shares of the transportation company’s stock worth $8,818,000 after buying an additional 20,751 shares in the last quarter. Seven Eight Capital LP lifted its holdings in shares of Old Dominion Freight Line by 141.1% in the 1st quarter. Seven Eight Capital LP now owns 1,806 shares of the transportation company’s stock worth $396,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Old Dominion Freight Line in the 1st quarter worth $110,051,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 0.7 %

Shares of Old Dominion Freight Line stock opened at $213.99 on Tuesday. The stock has a fifty day moving average price of $201.81 and a 200-day moving average price of $191.58. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The firm has a market cap of $45.69 billion, a PE ratio of 37.41, a P/E/G ratio of 4.51 and a beta of 0.99. 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 (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $1.54 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 in the last quarter. 9.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. The Goldman Sachs Group cut their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Citigroup increased their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.