Gillespie Robinson & Grimm Inc. Reduces Stake in Old Dominion Freight Line, Inc. (ODFL)

Gillespie Robinson & Grimm Inc. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,870 shares of the transportation company’s stock after selling 6,260 shares during the period. Old Dominion Freight Line accounts for 3.6% of Gillespie Robinson & Grimm Inc.’s holdings, making the stock its 9th biggest position. Gillespie Robinson & Grimm Inc. owned about 0.30% of Old Dominion Freight Line worth $26,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in ODFL. Janus Henderson Group PLC bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $266,855,000. William Blair Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after purchasing an additional 191,911 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 8.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock worth $199,998,000 after purchasing an additional 157,362 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock worth $183,182,000 after purchasing an additional 151,407 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Old Dominion Freight Line by 229.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock worth $15,965,000 after purchasing an additional 116,777 shares in the last quarter. Institutional investors own 73.89% of the company’s stock.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded down 0.88% during midday trading on Wednesday, reaching $120.07. The company had a trading volume of 82,461 shares. The stock’s 50 day moving average is $108.77 and its 200 day moving average is $97.17. Old Dominion Freight Line, Inc. has a 12-month low of $72.99 and a 12-month high of $124.13. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 31.10 and a beta of 1.09.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The business had revenue of $872.99 million for the quarter, compared to analyst estimates of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. Old Dominion Freight Line’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Equities research analysts expect that Old Dominion Freight Line, Inc. will post $4.30 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.85%.

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ODFL has been the topic of a number of analyst reports. Cowen and Company reiterated a “hold” rating and set a $100.00 price objective on shares of Old Dominion Freight Line in a research note on Friday, September 1st. Bank of America Corporation cut Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $105.00 to $102.00 in a research note on Tuesday, October 10th. They noted that the move was a valuation call. KeyCorp reiterated a “buy” rating and set a $115.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating and set a $119.00 price objective (up previously from $110.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $108.23.

In related news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the sale, the insider now directly owns 9,516 shares in the company, valued at $930,950.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.00% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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