Charles Schwab Investment Management Inc. Grows Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Charles Schwab Investment Management Inc. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,203,666 shares of the transportation company’s stock after purchasing an additional 78,587 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Old Dominion Freight Line worth $239,096,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after buying an additional 270,538 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after acquiring an additional 815,817 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Old Dominion Freight Line by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock valued at $182,444,000 after acquiring an additional 86,427 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Old Dominion Freight Line by 39.1% in the second quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock valued at $123,294,000 after acquiring an additional 196,350 shares in the last quarter. Finally, Bridges Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 12.9% during the third quarter. Bridges Investment Management Inc. now owns 694,620 shares of the transportation company’s stock worth $137,979,000 after purchasing an additional 79,348 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.9 %

ODFL opened at $220.25 on Friday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company has a market cap of $47.02 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 4.57 and a beta of 0.99. The business’s fifty day moving average is $203.84 and its two-hundred day moving average is $192.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 EPS. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ODFL shares. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Wells Fargo & Company cut their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Finally, The Goldman Sachs Group lowered their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $200.00.

Insider Buying and Selling

In other news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 in the last ninety days. Insiders own 9.90% of the company’s stock.

About Old Dominion Freight Line

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.