DRW Securities LLC Invests $371,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

DRW Securities LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, Holdings Channel reports. The institutional investor bought 1,870 shares of the transportation company’s stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Harvest Fund Management Co. Ltd lifted its holdings in shares of Old Dominion Freight Line by 50.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 9,875 shares of the transportation company’s stock worth $1,962,000 after acquiring an additional 3,300 shares during the period. Daiwa Securities Group Inc. raised its position in Old Dominion Freight Line by 54.6% in the third quarter. Daiwa Securities Group Inc. now owns 61,140 shares of the transportation company’s stock worth $12,145,000 after purchasing an additional 21,590 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Old Dominion Freight Line by 25.6% during the third quarter. Summit Trail Advisors LLC now owns 2,566 shares of the transportation company’s stock worth $510,000 after purchasing an additional 523 shares during the period. SevenBridge Financial Group LLC grew its stake in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares during the period. Finally, Centaurus Financial Inc. raised its holdings in shares of Old Dominion Freight Line by 3.1% in the 3rd quarter. Centaurus Financial Inc. now owns 3,782 shares of the transportation company’s stock worth $751,000 after buying an additional 113 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 0.4 %

Shares of NASDAQ ODFL opened at $225.97 on Wednesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market capitalization of $48.24 billion, a P/E ratio of 39.51, a P/E/G ratio of 4.61 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. The company’s 50 day simple moving average is $204.50 and its 200 day simple moving average is $192.81.

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 (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business 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%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $1.54 EPS. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 0.46%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group reduced their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $200.00.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.71 % decrease in their position. The transaction was disclosed in a filing 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 on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $4,028,510 in the last ninety days. Company insiders own 9.90% of the company’s stock.

About Old Dominion Freight Line

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.