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

Charles Schwab Investment Management Inc. boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,203,666 shares of the transportation company's stock after acquiring an additional 78,587 shares during the period. Charles Schwab Investment Management Inc. owned 0.56% of Old Dominion Freight Line worth $239,096,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at $25,000. Atwood & Palmer Inc. grew its stake in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock valued at $27,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc increased its holdings in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock worth $31,000 after acquiring an additional 163 shares during the period. LRI Investments LLC lifted its stake in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock worth $33,000 after purchasing an additional 79 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Leo H. Suggs sold 3,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Up 0.9 %

Shares of ODFL stock traded up $1.86 during mid-day trading on Friday, reaching $220.25. 774,310 shares of the company's stock traded hands, compared to its average volume of 1,439,456. The company's 50-day moving average price is $203.84 and its 200-day moving average price is $192.52. The company has a market cap of $47.02 billion, a P/E ratio of 38.51, a P/E/G ratio of 4.57 and a beta of 0.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the company earned $1.54 earnings per share. The business's revenue was down 3.0% compared to the same quarter last year. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company cut their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus target price of $200.00.

Old Dominion Freight Line 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.