Old Dominion Freight Line, Inc. $ODFL Holdings Increased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11,283.3% during the third quarter, HoldingsChannel reports. The firm owned 122,712 shares of the transportation company’s stock after purchasing an additional 121,634 shares during the quarter. International Assets Investment Management LLC’s holdings in Old Dominion Freight Line were worth $211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Old Dominion Freight Line in the second quarter worth $3,416,007,000. Bank of New York Mellon Corp bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $543,289,000. Legal & General Group Plc bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $253,155,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Old Dominion Freight Line by 14.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after buying an additional 142,809 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Old Dominion Freight Line by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,104,713 shares of the transportation company’s stock worth $215,808,000 after buying an additional 12,245 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 3.3%

ODFL stock traded down $5.64 during midday trading on Friday, hitting $164.92. The company’s stock had a trading volume of 2,570,611 shares, compared to its average volume of 1,982,908. The firm’s 50-day moving average is $180.81 and its 200-day moving average is $201.46. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a market cap of $34.20 billion, a PE ratio of 29.66, a P/E/G ratio of 2.88 and a beta of 1.14.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the company earned $1.28 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line, Inc. will post 5.93 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, December 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 20.86%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Old Dominion Freight Line from $230.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Wolfe Research raised shares of Old Dominion Freight Line from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 7th. Susquehanna lowered their target price on shares of Old Dominion Freight Line from $202.00 to $200.00 and set a “neutral” rating for the company in a report on Friday. Evercore reissued an “outperform” rating and issued a $243.00 price target (up from $237.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Finally, Weiss Ratings downgraded Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $217.22.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a transportation and logistics company specializing in less-than-truckload (LTL) shipping. It combines freight from multiple customers in its network to transport shipments that do not require an entire truck, and provides pickup and delivery services for businesses.

Founded in 1934 by Earl and Lillian Congdon, the company began with a single truck serving routes between Virginia and North Carolina. It has since expanded its service-center network across the United States, offering regional and national freight transportation.