Fayez Sarofim & Co Buys 48,820 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fayez Sarofim & Co grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 862,850 shares of the transportation company's stock after buying an additional 48,820 shares during the period. Fayez Sarofim & Co owned 0.40% of Old Dominion Freight Line worth $152,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Geode Capital Management LLC boosted its holdings in shares of Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after acquiring an additional 96,410 shares during the period. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $494,916,000. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 1.1% in the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock valued at $442,784,000 after acquiring an additional 27,367 shares during the period. First Trust Advisors LP grew its stake in shares of Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after acquiring an additional 185,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after acquiring an additional 46,570 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 7.7 %

ODFL traded down $12.16 during midday trading on Friday, hitting $146.74. The company had a trading volume of 4,092,818 shares, compared to its average volume of 1,684,084. The stock's 50 day moving average price is $166.62 and its 200 day moving average price is $187.97. Old Dominion Freight Line, Inc. has a 52 week low of $144.96 and a 52 week high of $233.26. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25. 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 (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.76%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 20.44%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ODFL. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday. Bank of America reduced their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Evercore ISI cut their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research report on Thursday. Finally, UBS Group decreased their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $182.95.

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.