Dimensional Fund Advisors LP Has $182.44 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Dimensional Fund Advisors LP grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,033,160 shares of the transportation company’s stock after buying an additional 86,427 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.48% of Old Dominion Freight Line worth $182,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 8.6% in the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after buying an additional 395 shares during the period. Chevy Chase Trust Holdings LLC boosted its holdings in shares of Old Dominion Freight Line by 98.3% during the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after purchasing an additional 50,019 shares during the period. Forsta AP Fonden boosted its holdings in shares of Old Dominion Freight Line by 65.0% during the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after purchasing an additional 15,600 shares during the period. Sei Investments Co. boosted its holdings in shares of Old Dominion Freight Line by 98.6% during the first quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after purchasing an additional 21,438 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Old Dominion Freight Line by 162.9% during the first quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after purchasing an additional 4,554 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $204.52 on Friday. The stock has a market cap of $44.44 billion, a P/E ratio of 36.01, a PEG ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a fifty day moving average price of $195.84 and a 200 day moving average price of $195.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Insider Activity at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several research reports. Stephens restated an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. BMO Capital Markets raised their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $201.83.

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.