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

Key Points

• Dimensional Fund Advisors LP increased its stake in Old Dominion Freight Line by 1.1% in the first quarter, buying 12,245 additional shares and bringing its total holding to 1,104,713 shares worth about $215.8 million.
• Old Dominion Freight Line reported better-than-expected first-quarter earnings of $1.14 per share, topping estimates, while revenue came in at $1.33 billion and remained slightly below the year-ago level.
• Wall Street sentiment is mixed: analysts currently have a Hold consensus on ODFL with a $223.04 average price target, even as several firms recently raised their targets and one director sold a significant stake.

Dimensional Fund Advisors LP lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,104,713 shares of the transportation company's stock after buying an additional 12,245 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.53% of Old Dominion Freight Line worth $215,808,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Reflection Asset Management bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $29,000. DT Investment Partners LLC grew its stake in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after buying an additional 180 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $40,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 0.9%

ODFL stock opened at $230.71 on Friday. The stock's 50 day simple moving average is $224.89 and its 200 day simple moving average is $204.57. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The stock has a market capitalization 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 (NASDAQ:ODFL - Get Free Report) last posted 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 return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $1.19 EPS. The company's quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line's dividend payout ratio (DPR) is 24.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ODFL. Truist Financial lifted their price objective on Old Dominion Freight Line from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Old Dominion Freight Line in a research note on Friday, July 10th. Morgan Stanley restated an "equal weight" rating and set a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $241.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research report on Monday, July 13th. Finally, Barclays upped their price target on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Ten 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $223.04.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

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.

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