7,557 Shares in Old Dominion Freight Line, Inc. $ODFL Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, Holdings Channel reports. The fund acquired 7,557 shares of the transportation company’s stock, valued at approximately $1,064,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ODFL. Financial Gravity Companies Inc. purchased a new position in Old Dominion Freight Line in the second quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $37,000. Finally, Zions Bancorporation National Association UT raised its holdings in Old Dominion Freight Line by 273.5% in the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock worth $62,000 after acquiring an additional 320 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the transaction, the director directly owned 11,278 shares in the company, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. This represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Stephens reiterated an “overweight” rating and set a $232.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Wolfe Research set a $138.00 price target on Old Dominion Freight Line in a research note on Thursday, January 8th. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Citigroup reissued a “neutral” rating and issued a $216.00 target price (up from $196.00) on shares of Old Dominion Freight Line in a research report on Friday, February 6th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $191.08.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $176.24 on Friday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63. The stock has a fifty day moving average of $186.50 and a 200 day moving average of $159.01. The stock has a market cap of $36.73 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 3.97 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line’s payout ratio is 24.02%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.