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

Chevy Chase Trust Holdings LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 103,605 shares of the transportation company's stock after acquiring an additional 4,695 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Old Dominion Freight Line were worth $20,580,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock worth $136,130,000 after buying an additional 681,858 shares during the last quarter. Bristol Gate Capital Partners Inc. bought a new position in Old Dominion Freight Line in the second quarter worth $92,697,000. Renaissance Technologies LLC bought a new position in shares of Old Dominion Freight Line during the second quarter valued at $82,398,000. Bridges Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 136.0% during the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company's stock valued at $108,657,000 after acquiring an additional 354,588 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company's stock valued at $1,096,849,000 after acquiring an additional 270,538 shares during the period. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on ODFL shares. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Evercore ISI cut their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a report on Thursday, October 3rd. Robert W. Baird cut their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Barclays boosted their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating and decreased their price objective for the company from $209.00 to $197.00 in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $201.94.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction dated 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 owns 97,890 shares of the company's stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company's stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Down 3.5 %

Shares of ODFL stock traded down $7.56 during trading hours on Wednesday, reaching $211.03. 2,008,130 shares of the company's stock were exchanged, compared to its average volume of 1,532,199. The stock's 50 day moving average is $207.67 and its 200-day moving average is $194.54. The company has a market cap of $45.05 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 4.70 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $1.54 EPS. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued 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 0.49%. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

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.