Franklin Resources Inc. Sells 21,279 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Franklin Resources Inc. lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,950 shares of the transportation company’s stock after selling 21,279 shares during the period. Franklin Resources Inc. owned 0.31% of Old Dominion Freight Line worth $88,148,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Old Dominion Freight Line by 6.6% in the 2nd quarter. Rhumbline Advisers now owns 205,360 shares of the transportation company’s stock worth $52,630,000 after acquiring an additional 12,634 shares in the last quarter. Cetera Advisor Networks LLC raised its position in shares of Old Dominion Freight Line by 7.1% in the 2nd quarter. Cetera Advisor Networks LLC now owns 3,336 shares of the transportation company’s stock worth $855,000 after acquiring an additional 221 shares in the last quarter. Bridgewater Associates LP raised its position in shares of Old Dominion Freight Line by 94.8% in the 2nd quarter. Bridgewater Associates LP now owns 132,823 shares of the transportation company’s stock worth $34,040,000 after acquiring an additional 64,627 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Old Dominion Freight Line by 2.1% in the 2nd quarter. Apollon Wealth Management LLC now owns 3,932 shares of the transportation company’s stock worth $1,008,000 after acquiring an additional 81 shares in the last quarter. Finally, BOKF NA raised its position in shares of Old Dominion Freight Line by 1.1% in the 2nd quarter. BOKF NA now owns 11,913 shares of the transportation company’s stock worth $3,053,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 73.48% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $297.03 on Thursday. Old Dominion Freight Line, Inc. has a one year low of $231.31 and a one year high of $373.58. The stock’s fifty day moving average is $272.36 and its 200 day moving average is $270.95. The stock has a market cap of $32.82 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $1.20 dividend on an annualized basis and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio is currently 10.28%.

Analyst Ratings Changes

Several analysts recently weighed in on ODFL shares. Susquehanna Bancshares cut their price target on Old Dominion Freight Line from $265.00 to $260.00 in a research note on Thursday, October 27th. StockNews.com started coverage on Old Dominion Freight Line in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group upped their price target on Old Dominion Freight Line from $285.00 to $292.00 and gave the stock a “neutral” rating in a research note on Thursday, October 27th. Raymond James upped their price target on Old Dominion Freight Line from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, October 27th. Finally, Morgan Stanley cut their price target on Old Dominion Freight Line from $314.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $296.25.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 32,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $313.95, for a total value of $10,046,400.00. Following the transaction, the chairman now directly owns 858,861 shares of the company’s stock, valued at approximately $269,639,410.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.30% of the stock is owned by insiders.

Old Dominion Freight Line Profile

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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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