Resources Investment Advisors LLC. purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 753 shares of the transportation company’s stock, valued at approximately $257,000.
Several other hedge funds and other institutional investors have also bought and sold shares of ODFL. CoreCap Advisors LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $30,000. Heritage Wealth Management LLC lifted its position in Old Dominion Freight Line by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 140 shares of the transportation company’s stock worth $40,000 after buying an additional 70 shares in the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth $40,000. Heritage Wealth Advisors acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $43,000. Finally, Global Wealth Management Investment Advisory Inc. lifted its holdings in Old Dominion Freight Line by 56.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company’s stock worth $52,000 after buying an additional 63 shares during the last quarter. Institutional investors own 72.38% of the company’s stock.
Insider Transactions at Old Dominion Freight Line
In related news, Director Thomas A. Stith III sold 225 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $411.66, for a total transaction of $92,623.50. Following the completion of the transaction, the director now directly owns 1,342 shares in the company, valued at $552,447.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Steven W. Hartsell sold 403 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $405.33, for a total transaction of $163,347.99. Following the completion of the transaction, the senior vice president now directly owns 491 shares of the company’s stock, valued at approximately $199,017.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas A. Stith III sold 225 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $411.66, for a total value of $92,623.50. Following the completion of the sale, the director now directly owns 1,342 shares of the company’s stock, valued at $552,447.72. The disclosure for this sale can be found here. Company insiders own 10.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Stock Down 1.0 %
Shares of ODFL opened at $408.70 on Friday. The business’s 50 day simple moving average is $384.93 and its 200-day simple moving average is $349.26. Old Dominion Freight Line, Inc. has a 1 year low of $240.00 and a 1 year high of $429.24. The stock has a market capitalization of $44.66 billion, a price-to-earnings ratio of 35.51, a price-to-earnings-growth ratio of 4.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.45 and a quick ratio of 1.45.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. Old Dominion Freight Line had a return on equity of 34.58% and a net margin of 21.49%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The business’s revenue was down 15.2% compared to the same quarter last year. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 10.65 earnings per share for the current fiscal year.
Old Dominion Freight Line declared that its board has authorized a stock repurchase plan on Wednesday, July 26th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the transportation company to purchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Old Dominion Freight Line Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, September 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 13.90%.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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