KBC Group NV Sells 24,612 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

KBC Group NV trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 41.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,766 shares of the transportation company’s stock after selling 24,612 shares during the quarter. KBC Group NV’s holdings in Old Dominion Freight Line were worth $6,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Old Dominion Freight Line by 17.2% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 2,797 shares of the transportation company’s stock valued at $556,000 after buying an additional 411 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at $271,000. Geneva Capital Management LLC grew its position in Old Dominion Freight Line by 7.1% in the 3rd quarter. Geneva Capital Management LLC now owns 97,085 shares of the transportation company’s stock valued at $19,285,000 after acquiring an additional 6,437 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Old Dominion Freight Line by 554.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 35,307 shares of the transportation company’s stock worth $7,013,000 after purchasing an additional 29,909 shares during the period. Finally, Proactive Wealth Strategies LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $253,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 3.5 %

Shares of ODFL stock opened at $215.57 on Friday. The stock’s fifty day moving average price is $201.32 and its 200 day moving average price is $191.30. 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, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a market cap of $46.02 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Analyst Ratings Changes

A number of research analysts have recently commented on ODFL shares. The Goldman Sachs Group cut 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 report on Wednesday, October 9th. TD Cowen reduced their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Susquehanna decreased their price target 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. BMO Capital Markets dropped their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI decreased their target price on 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $200.00.

Insider Activity

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on 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 sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 over the last ninety days. 9.90% of the stock is currently owned by insiders.

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.