Schroder Investment Management Group Has $29.94 Million Position in Old Dominion Freight Line, Inc. $ODFL

Schroder Investment Management Group lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.7% in the 3rd quarter, Holdings Channel reports. The firm owned 212,675 shares of the transportation company’s stock after selling 10,560 shares during the period. Schroder Investment Management Group’s holdings in Old Dominion Freight Line were worth $29,940,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ODFL. Financial Gravity Companies Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth $37,000. Finally, Zions Bancorporation National Association UT lifted its holdings in Old Dominion Freight Line by 273.5% during the third quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock worth $62,000 after acquiring an additional 320 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the sale, the chairman owned 712,800 shares of the company’s stock, valued at $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 80,134 shares of company stock worth $15,640,132 over the last ninety days. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $188.78 on Thursday. The stock has a market capitalization of $39.35 billion, a P/E ratio of 39.08, a P/E/G ratio of 4.10 and a beta of 1.23. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $221.63. The business has a 50-day moving average of $186.11 and a 200-day moving average of $158.89.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Old Dominion Freight Line in a research note on Thursday, February 19th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a research report on Thursday, February 5th. Stephens reissued an “overweight” rating and set a $232.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $195.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, February 4th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $191.08.

Old Dominion Freight Line Company 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.