Important 13DG Filing: Old Dominion Freight Line IncVa Has Another Bullish Trade, Congdon John R Jr Bought Stake!

Important 13DG Filing: Old Dominion Freight Line IncVa Has Another Bullish Trade, Congdon John R Jr Bought Stake!

The New Congdon John R Jr Holding in Old Dominion Freight Line IncVa

Congdon John R Jr filed with the SEC SC 13D/A form for Old Dominion Freight Line IncVa. The form can be accessed here: 000119312516776606. As reported in Congdon John R Jr’s form, the filler as of late owns 4.1% or 3,419,189 shares of the Transports–company.

Old Dominion Freight Line IncVa stake is a new one for the and it was filed because of activity on August 12, 2016. We feel this shows Congdon John R Jr’s positive view for the stock.

Reasons Why Congdon John R Jr Bought – Old Dominion Freight Line IncVa Stock

Purpose of Transaction

The second paragraph of Item4 is hereby amended and restated as follows:

The Reporting Persons intend to hold for investment the Shares that they beneficially own and, aside from routine estate planningtransactions, have no present plans to acquire or dispose of any Shares, but reserve the right to do so from time to time. Except as indicated above, the Reporting Persons have no present plans or proposals which relate to, or would result in, anyone or more of the matters described in subparagraphs (a)through (j)of Item4 of Schedule 13D.

Old Dominion Freight Line IncVa Institutional Sentiment

Latest Security and Exchange filings show 296 investors own Old Dominion Freight Line IncVa. The institutional ownership in Q3 2015 is very high, at 65.36% of the outstanding shares. This is decreased by 7087986 the total institutional shares. 53882248 were the shares owned by these institutional investors. In total 35 funds opened new Old Dominion Freight Line IncVa stakes, 133 increased stakes. There were 49 that closed positions and 97 reduced them.

2 managers had the stock in their top Ten. Notable investors are: Financial Engines Advisors L.L.C., Sib Llc, Knightsbridge Asset Management Llc, Campbell & Co Investment Adviser Llc..

Dalton Greiner Hartman Maher & Co is an institutional investor bullish on Old Dominion Freight Line IncVa, owning 358215 shares as of Q3 2015 for 1.23% of its portfolio. Hood River Capital Management Llc owns 221003 shares or 1.87% of its portfolio. CA Financial Engines Advisors Llc have 3.35% of their stock portfolio for 78226 shares. Further, Pier Capital Llc reported stake worth 1.19% of its US stock portfolio. The NY Sib Llc owns 150354 shares. Old Dominion Freight Line IncVa is 7.47% of the manager’s US portfolio.

Business Profile

Old Dominion Freight Line, Inc. is a less-than-truckload (LTL), union-free motor carrier company. The Company provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Company offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing. The Company operates approximately 230 service center locations. The Company’s network includes a range of breakbulk facilities located in Rialto, California; Atlanta, Georgia; Columbus, Ohio; Indianapolis, Indiana; Greensboro, North Carolina; Harrisburg, Pennsylvania; Memphis and Morristown, Tennessee; Dallas, Texas, and Salt Lake City, Utah, among others. The Company owns approximately 7,690 tractors.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment increased to 0.83 in 2016 Q2. Its up 0.04, from 0.79 in 2016Q1. The ratio increased, as 37 funds sold all Old Dominion Freight Line shares owned while 105 reduced positions. 35 funds bought stakes while 77 increased positions. They now own 58.93 million shares or 6.44% less from 62.99 million shares in 2016Q1.

The New York-based Art has invested 0.02% in Old Dominion Freight Line (NASDAQ:ODFL). Jupiter Asset Mngmt Limited holds 0.2% of its portfolio in Old Dominion Freight Line (NASDAQ:ODFL) for 88,701 shares. Moreover, M&T Savings Bank has 0% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 4,117 shares. Bnp Paribas Arbitrage holds 0.01% of its portfolio in Old Dominion Freight Line (NASDAQ:ODFL) for 27,051 shares. Numeric Investors Ltd Liability Corp, a Massachusetts-based fund reported 9,100 shares. Capstone Asset Mgmt Communications has 5,923 shares for 0.01% of their US portfolio. Blackrock Institutional Trust Na holds 2.02M shares or 0.02% of its portfolio. Teacher Retirement System Of Texas reported 8,877 shares or 0% of all its holdings. California State Teachers Retirement Systems holds 0.02% of its portfolio in Old Dominion Freight Line (NASDAQ:ODFL) for 144,288 shares. Sib Limited Liability Corp accumulated 150,354 shares or 7.75% of the stock. Blackrock Fund last reported 2.39M shares in the company. Knightsbridge Asset Mgmt Ltd Limited Liability Company owns 106,000 shares or 6.01% of their US portfolio. Marshall Wace Llp owns 96,471 shares or 0.05% of their US portfolio. Manufacturers Life Insur The has 92,902 shares for 0.01% of their US portfolio. The Texas-based Carlson Limited Partnership has invested 0.14% in Old Dominion Freight Line (NASDAQ:ODFL).

Insider Transactions: Since June 16, 2016, the stock had 0 insider purchases, and 14 selling transactions for $17.08 million net activity. $417,840 worth of Old Dominion Freight Line (NASDAQ:ODFL) shares were sold by CONGDON JOHN R JR. On Friday, November 11 SUGGS LEO H sold $309,130 worth of the stock or 3,800 shares. Another trade for 11,632 shares valued at $824,360 was made by CONGDON JEFFREY W on Monday, August 8. The insider CONGDON DAVID S sold $60,856.

Analysts await Old Dominion Freight Line (NASDAQ:ODFL) to report earnings on February, 2. They expect $0.88 earnings per share, up 3.53% or $0.03 from last year’s $0.85 per share. ODFL’s profit will be $72.51M for 25.07 P/E if the $0.88 EPS becomes a reality. After $1.03 actual earnings per share reported by Old Dominion Freight Line for the previous quarter, Wall Street now forecasts -14.56% negative EPS growth.

The stock increased 1.82% or $1.58 during the last trading session, hitting $88.23. About 399,659 shares traded hands. Old Dominion Freight Line (NASDAQ:ODFL) has risen 27.11% since April 21, 2016 and is uptrending. It has outperformed by 21.78% the S&P500.

Old Dominion Freight Line, Inc. is a less-than-truckload , union-free motor carrier company. The company has a market cap of $7.27 billion. The Firm provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. It has a 24.64 P/E ratio. The Firm offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.

Old Dominion Freight Line (NASDAQ:ODFL) Ratings Coverage

Out of 8 analysts covering Old Dominion Freight Line (NASDAQ:ODFL), 2 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 25% are positive. $90 is the highest target while $60.0 is the lowest. The $70.86 average target is -19.69% below today’s ($88.23) stock price. Old Dominion Freight Line has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Stifel Nicolaus given on Thursday, April 28. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, September 23 report. Bank of America downgraded the shares of ODFL in a report on Wednesday, December 2 to “Neutral” rating. Deutsche Bank maintained Old Dominion Freight Line (NASDAQ:ODFL) rating on Friday, July 31. Deutsche Bank has “Hold” rating and $82 price target. Deutsche Bank initiated Old Dominion Freight Line (NASDAQ:ODFL) on Wednesday, November 2 with “Buy” rating. Bank of America initiated the shares of ODFL in a report on Friday, October 2 with “Buy” rating. Cowen & Co maintained the shares of ODFL in a report on Friday, July 31 with “Market Perform” rating. The stock of Old Dominion Freight Line (NASDAQ:ODFL) earned “Neutral” rating by Citigroup on Wednesday, October 7. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, July 31. The stock of Old Dominion Freight Line (NASDAQ:ODFL) earned “Underperform” rating by Bank of America on Friday, October 28.

More recent Old Dominion Freight Line (NASDAQ:ODFL) news were published by: Prnewswire.com which released: “Old Dominion Freight Line’s Third Quarter 2016 Conference Call On The Internet” on October 06, 2016. Also Tucson.com published the news titled: “Old Dominion expanding near new HomeGoods and FedEx facilities” on May 17, 2016. Nasdaq.com‘s news article titled: “Old Dominion Freight Line Q3 Profit Rises 1%” with publication date: October 27, 2016 was also an interesting one.

According to Zacks Investment Research, “Old Dominion Freight Line, Inc. is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base.”

ODFL Company Profile

Old Dominion Freight Line, Inc., incorporated on March 22, 1999, is a less-than-truckload (LTL), union-free motor carrier company. The Firm provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Firm offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.

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