Dimensional Fund Advisors LP Purchases 12,245 Shares of Old Dominion Freight Line, Inc. $ODFL

Dimensional Fund Advisors LP raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,104,713 shares of the transportation company’s stock after acquiring an additional 12,245 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Old Dominion Freight Line were worth $215,808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Old Dominion Freight Line by 5.3% during the 1st quarter. Parallel Advisors LLC now owns 2,500 shares of the transportation company’s stock valued at $489,000 after purchasing an additional 125 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $7,126,000. Swiss National Bank boosted its holdings in shares of Old Dominion Freight Line by 6.6% in the first quarter. Swiss National Bank now owns 552,300 shares of the transportation company’s stock worth $107,919,000 after buying an additional 34,100 shares during the last quarter. Kinsale Capital Group Inc. boosted its holdings in shares of Old Dominion Freight Line by 16.1% in the first quarter. Kinsale Capital Group Inc. now owns 49,140 shares of the transportation company’s stock worth $9,602,000 after buying an additional 6,798 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Trading Down 0.9%

Shares of NASDAQ:ODFL opened at $230.71 on Friday. The stock has a 50 day moving average of $224.89 and a 200 day moving average of $204.57. The company has a market cap of $47.98 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 4.20 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $1.19 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ODFL. Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. Robert W. Baird set a $229.00 price target on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Argus upped their price objective on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Wolfe Research upped their price objective on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $223.04.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.