Canal Capital Management LLC Grows Position in Old Dominion Freight Line, Inc. (ODFL)

Canal Capital Management LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1,125.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,626 shares of the transportation company’s stock after purchasing an additional 45,576 shares during the period. Old Dominion Freight Line accounts for about 3.2% of Canal Capital Management LLC’s holdings, making the stock its 5th biggest position. Canal Capital Management LLC owned approximately 0.06% of Old Dominion Freight Line worth $5,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after purchasing an additional 5,353,843 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,372,428 shares of the transportation company’s stock valued at $511,669,000 after purchasing an additional 54,645 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Old Dominion Freight Line during the second quarter valued at about $266,855,000. Janus Capital Management LLC lifted its position in shares of Old Dominion Freight Line by 1.0% during the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock valued at $238,725,000 after purchasing an additional 27,397 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after purchasing an additional 191,911 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.00% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Canal Capital Management LLC Grows Position in Old Dominion Freight Line, Inc. (ODFL)” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/20/canal-capital-management-llc-grows-position-in-old-dominion-freight-line-inc-odfl.html.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded up 1.55% during mid-day trading on Friday, reaching $112.35. 305,623 shares of the company were exchanged. The company has a market capitalization of $9.26 billion, a PE ratio of 29.10 and a beta of 1.09. Old Dominion Freight Line, Inc. has a one year low of $68.82 and a one year high of $112.46. The stock has a 50-day moving average price of $105.42 and a 200 day moving average price of $95.19.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post $4.15 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.36%. The ex-dividend date was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

ODFL has been the topic of a number of recent analyst reports. Credit Suisse Group reissued an “outperform” rating and set a $109.00 price target (up from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Tuesday, October 3rd. Deutsche Bank AG lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the company from $108.00 to $98.00 in a research report on Monday, July 31st. BidaskClub raised shares of Old D

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after purchasing an additional 5,353,843 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,372,428 shares of the transportation company’s stock valued at $511,669,000 after purchasing an additional 54,645 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Old Dominion Freight Line during the second quarter valued at about $266,855,000. Janus Capital Management LLC lifted its position in shares of Old Dominion Freight Line by 1.0% during the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock valued at $238,725,000 after purchasing an additional 27,397 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after purchasing an additional 191,911 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.00% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Canal Capital Management LLC Grows Position in Old Dominion Freight Line, Inc. (ODFL)” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/20/canal-capital-management-llc-grows-position-in-old-dominion-freight-line-inc-odfl.html.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded up 1.55% during mid-day trading on Friday, reaching $112.35. 305,623 shares of the company were exchanged. The company has a market capitalization of $9.26 billion, a PE ratio of 29.10 and a beta of 1.09. Old Dominion Freight Line, Inc. has a one year low of $68.82 and a one year high of $112.46. The stock has a 50-day moving average price of $105.42 and a 200 day moving average price of $95.19.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post $4.15 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.36%. The ex-dividend date was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

ODFL has been the topic of a number of recent analyst reports. Credit Suisse Group reissued an “outperform” rating and set a $109.00 price target (up from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Tuesday, October 3rd. Deutsche Bank AG lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the company from $108.00 to $98.00 in a research report on Monday, July 31st. BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Morgan Stanley raised their price target on shares of Old Dominion Freight Line from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $103.75.

About Old Dominion Freight Line

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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