Old Dominion Freight Line, Inc. $ODFL Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. raised its stake in Old Dominion Freight Line, Inc. by 41.3%, owning approximately 0.14% of the company, valued at $47.77 million after acquiring an additional 84,313 shares.
• Despite the increase in investment from several funds, Old Dominion Freight Line's recent earnings report showed a dip in revenue by 6.1% year-over-year, with an EPS of $1.27, missing estimates by $0.02.
• The company declared a quarterly dividend of $0.28 per share, resulting in an annualized yield of 0.7%, with a payout ratio of 21.88% as of their latest report.

American Century Companies Inc. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 41.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,704 shares of the transportation company's stock after acquiring an additional 84,313 shares during the quarter. American Century Companies Inc. owned about 0.14% of Old Dominion Freight Line worth $47,766,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares during the period. American National Bank & Trust purchased a new stake in Old Dominion Freight Line during the first quarter worth about $30,000. Itau Unibanco Holding S.A. boosted its holdings in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 192 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line during the first quarter worth about $39,000. Finally, Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the first quarter worth about $39,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 6.3%

Shares of NASDAQ:ODFL traded up $9.38 during trading on Friday, reaching $159.13. The stock had a trading volume of 1,962,314 shares, compared to its average volume of 2,233,569. The business has a fifty day moving average price of $158.50 and a 200-day moving average price of $164.71. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market cap of $33.44 billion, a P/E ratio of 31.08, a PEG ratio of 3.47 and a beta of 1.24. Old Dominion Freight Line, Inc. has a fifty-two week low of $140.91 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $1.48 EPS. The business's quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is 21.88%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of research reports. Stifel Nicolaus cut their target price on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Susquehanna cut their target price on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Raymond James Financial cut their target price on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company cut their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. Finally, Morgan Stanley cut their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus target price of $167.62.

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.