Chevy Chase Trust Holdings LLC Sells 2,665 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vontobel Holding Ltd. raised its stake in shares of Old Dominion Freight Line by 27.5% during the fourth quarter. Vontobel Holding Ltd. now owns 12,478 shares of the transportation company's stock worth $2,201,000 after acquiring an additional 2,688 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Old Dominion Freight Line by 2.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 76,309 shares of the transportation company's stock worth $13,753,000 after buying an additional 1,948 shares during the period. Avestar Capital LLC increased its stake in shares of Old Dominion Freight Line by 12.0% in the fourth quarter. Avestar Capital LLC now owns 1,258 shares of the transportation company's stock worth $222,000 after buying an additional 135 shares during the period. Van ECK Associates Corp increased its stake in shares of Old Dominion Freight Line by 0.4% in the fourth quarter. Van ECK Associates Corp now owns 42,075 shares of the transportation company's stock worth $7,422,000 after buying an additional 187 shares during the period. Finally, Peterson Wealth Services increased its position in Old Dominion Freight Line by 0.9% during the 4th quarter. Peterson Wealth Services now owns 14,464 shares of the transportation company's stock valued at $2,551,000 after purchasing an additional 130 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL traded down $4.18 during midday trading on Wednesday, hitting $205.11. 1,284,658 shares of the company's stock traded hands, compared to its average volume of 1,520,439. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The stock has a market capitalization of $43.79 billion, a price-to-earnings ratio of 37.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a fifty day moving average of $189.48 and a 200 day moving average of $197.86.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.55%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of research analyst reports. TD Cowen reduced 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. StockNews.com raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday. Citigroup boosted their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Jefferies Financial Group boosted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research report on Friday, January 10th. Finally, Evercore ISI boosted their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company 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 assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus target price 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.