Chevy Chase Trust Holdings LLC Decreases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 100,251 shares of the transportation company’s stock after selling 689 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Old Dominion Freight Line were worth $16,587,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ODFL. Geode Capital Management LLC grew its position 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 buying an additional 96,410 shares in the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $494,916,000. Capital World Investors increased its position in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after purchasing an additional 27,367 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Old Dominion Freight Line by 15.2% in the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after purchasing an additional 261,305 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock worth $272,969,000 after purchasing an additional 185,500 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group dropped their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Barclays dropped their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Stephens reissued an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. Truist Financial lowered their price target on Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Bank of America increased their price target on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $176.10.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $160.35 on Thursday. The stock’s 50-day moving average price is $160.02 and its 200 day moving average price is $172.99. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $33.89 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.34 and a beta of 1.26. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.70%. Old Dominion Freight Line’s dividend payout ratio is currently 21.01%.

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.