Sheaff Brock Investment Advisors LLC Has $967,000 Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

Sheaff Brock Investment Advisors LLC lessened its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,478 shares of the transportation company’s stock after selling 323 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ODFL. Cordasco Financial Network increased its stake in Old Dominion Freight Line by 77.2% in the 2nd quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock valued at $27,000 after buying an additional 78 shares during the last quarter. CWM LLC increased its stake in Old Dominion Freight Line by 42.5% in the 1st quarter. CWM LLC now owns 258 shares of the transportation company’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $42,000. Huntington National Bank increased its stake in Old Dominion Freight Line by 240.8% in the 2nd quarter. Huntington National Bank now owns 409 shares of the transportation company’s stock valued at $61,000 after buying an additional 289 shares during the last quarter. Finally, Hilton Capital Management LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $80,000. Institutional investors own 70.65% of the company’s stock.

Several equities research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of Old Dominion Freight Line from $152.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. KeyCorp increased their price objective on shares of Old Dominion Freight Line from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Bank of America reiterated a “neutral” rating and issued a $150.00 price objective (up previously from $144.00) on shares of Old Dominion Freight Line in a research note on Thursday, June 20th. Finally, Robert W. Baird set a $162.00 price objective on shares of Old Dominion Freight Line and gave the company a “hold” rating in a research note on Friday, July 26th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Old Dominion Freight Line has an average rating of “Hold” and an average price target of $152.08.

In related news, SVP Gregory B. Plemmons sold 1,249 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $163.39, for a total value of $204,074.11. Following the completion of the transaction, the senior vice president now directly owns 5,714 shares of the company’s stock, valued at approximately $933,610.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Earl E. Congdon sold 56,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.53, for a total transaction of $9,392,292.00. Following the completion of the transaction, the chairman now directly owns 10,854 shares of the company’s stock, valued at $1,807,516.62. The disclosure for this sale can be found here. 11.90% of the stock is owned by corporate insiders.

Shares of Old Dominion Freight Line stock traded down $5.52 on Wednesday, reaching $166.26. 14,298 shares of the company traded hands, compared to its average volume of 519,460. Old Dominion Freight Line has a 52 week low of $115.00 and a 52 week high of $171.87. The business has a 50 day moving average of $156.39. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.38 and a beta of 1.49. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, July 25th. The transportation company reported $2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.05. Old Dominion Freight Line had a net margin of 15.48% and a return on equity of 23.57%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $1.99 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Old Dominion Freight Line will post 7.92 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 9.21%.

Old Dominion Freight Line declared that its board has approved a stock buyback program on Thursday, May 16th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the transportation company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

About Old Dominion Freight Line

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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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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