Gillespie Robinson & Grimm Inc. reduced its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,634 shares of the transportation company’s stock after selling 61,577 shares during the quarter. Old Dominion Freight Line accounts for about 2.8% of Gillespie Robinson & Grimm Inc.’s holdings, making the stock its 23rd biggest holding. Gillespie Robinson & Grimm Inc.’s holdings in Old Dominion Freight Line were worth $23,224,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ODFL. M&T Bank Corp lifted its holdings in shares of Old Dominion Freight Line by 4.4% in the second quarter. M&T Bank Corp now owns 13,353 shares of the transportation company’s stock worth $1,993,000 after acquiring an additional 561 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 0.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 18,281 shares of the transportation company’s stock valued at $2,729,000 after acquiring an additional 90 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Old Dominion Freight Line by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 6,543,803 shares of the transportation company’s stock valued at $976,728,000 after acquiring an additional 30,143 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its stake in shares of Old Dominion Freight Line by 10.5% in the 2nd quarter. Financial Engines Advisors L.L.C. now owns 71,498 shares of the transportation company’s stock valued at $10,672,000 after acquiring an additional 6,823 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Old Dominion Freight Line by 4.1% in the 2nd quarter. Pictet Asset Management Ltd. now owns 22,600 shares of the transportation company’s stock valued at $3,373,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.

Shares of ODFL stock traded up $1.33 during trading hours on Thursday, hitting $166.72. 74,530 shares of the company’s stock traded hands, compared to its average volume of 461,229. The stock has a market cap of $13.36 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.42 and a beta of 1.52. 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 has a 12 month low of $115.00 and a 12 month high of $176.22. The stock’s 50 day simple moving average is $166.58 and its 200 day simple moving average is $154.25.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, July 25th. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.05. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. Old Dominion Freight Line had a return on equity of 23.57% and a net margin of 15.48%. Old Dominion Freight Line’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. As a group, equities research analysts expect that Old Dominion Freight Line will post 7.9 EPS for the current fiscal year.

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

In other news, Chairman Earl E. Congdon sold 56,400 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,807,516.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory B. Plemmons sold 1,249 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $163.39, for a total value of $204,074.11. Following the transaction, the senior vice president now owns 5,714 shares of the company’s stock, valued at $933,610.46. The disclosure for this sale can be found here. Insiders have sold 87,799 shares of company stock valued at $14,586,493 over the last 90 days. 11.90% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on ODFL shares. KeyCorp increased their price target on 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. BidaskClub downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Morgan Stanley set a $146.00 target price on Old Dominion Freight Line and gave the company a “hold” rating in a research report on Friday, August 9th. ValuEngine downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Mizuho reiterated a “hold” rating and issued a $151.00 target price on shares of Old Dominion Freight Line in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $153.42.

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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