Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Cut by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 100,940 shares of the transportation company’s stock after selling 2,665 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Old Dominion Freight Line were worth $17,806,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its stake in shares of Old Dominion Freight Line by 9.2% during the third quarter. Vontobel Holding Ltd. now owns 9,790 shares of the transportation company’s stock valued at $1,945,000 after purchasing an additional 824 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Old Dominion Freight Line by 3.7% during the third quarter. Global Retirement Partners LLC now owns 5,984 shares of the transportation company’s stock valued at $1,189,000 after purchasing an additional 215 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Old Dominion Freight Line by 8.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,317 shares of the transportation company’s stock valued at $4,036,000 after purchasing an additional 1,627 shares in the last quarter. Stonegate Investment Group LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at about $229,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at about $266,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 0.0 %

NASDAQ:ODFL opened at $206.34 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The stock’s 50-day moving average is $189.35 and its two-hundred day moving average is $197.82. The stock has a market cap of $44.05 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 18.98%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ODFL shares. The Goldman Sachs Group lifted their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Bank of America lowered their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lifted their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.