Schroder Investment Management Group Has $35.34 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Schroder Investment Management Group raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 164.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,355 shares of the transportation company's stock after purchasing an additional 124,052 shares during the period. Schroder Investment Management Group owned about 0.09% of Old Dominion Freight Line worth $35,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $494,916,000. Wellington Management Group LLP grew its holdings in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock valued at $285,094,000 after purchasing an additional 750,073 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. Raymond James Financial Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans boosted its position in Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after purchasing an additional 573,586 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and increased their target price for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price for the company. Morgan Stanley lifted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average price target of $199.70.

Old Dominion Freight Line Trading Down 2.4 %

Shares of Old Dominion Freight Line stock traded down $3.69 during trading on Friday, hitting $152.06. The stock had a trading volume of 3,326,316 shares, compared to its average volume of 1,646,353. Old Dominion Freight Line, Inc. has a 1 year low of $147.06 and a 1 year high of $233.26. The stock has a 50 day simple moving average of $179.81 and a 200 day simple moving average of $192.48. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $32.32 billion, a PE ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. Old Dominion Freight Line's payout ratio is currently 18.98%.

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.