Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its holdings in Old Dominion Freight Line by 0.6%, now owning approximately 1,248,592 shares valued at $206.57 million.
• The company reported an earnings per share of $1.27 for the last quarter, falling short of analyst estimates, with a revenue of $1.41 billion, which is down 6.1% year-over-year.
• Old Dominion Freight Line announced a quarterly dividend of $0.28 per share, with a yield of 0.7% and a payout ratio of 21.88%.

Dimensional Fund Advisors LP grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,248,592 shares of the transportation company's stock after acquiring an additional 7,039 shares during the quarter. Dimensional Fund Advisors LP owned 0.59% of Old Dominion Freight Line worth $206,567,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after buying an additional 79 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $368,000. NewEdge Advisors LLC increased its holdings in Old Dominion Freight Line by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 6,151 shares of the transportation company's stock worth $1,085,000 after acquiring an additional 162 shares in the last quarter. Marshall Wace LLP boosted its stake in Old Dominion Freight Line by 423.1% in the 4th quarter. Marshall Wace LLP now owns 7,229 shares of the transportation company's stock worth $1,275,000 after purchasing an additional 5,847 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Old Dominion Freight Line by 29.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,807 shares of the transportation company's stock worth $1,024,000 after purchasing an additional 1,314 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 6.3%

Shares of ODFL stock traded up $9.38 during trading hours on Friday, reaching $159.13. 1,962,314 shares of the company's stock were exchanged, compared to its average volume of 2,233,569. Old Dominion Freight Line, Inc. has a 1 year low of $140.91 and a 1 year high of $233.26. The stock has a market cap of $33.44 billion, a PE ratio of 31.08, a PEG ratio of 3.47 and a beta of 1.24. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock's fifty day moving average price is $158.50 and its two-hundred day moving average price is $164.71.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line's revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ODFL shares. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a report on Monday, August 4th. Stifel Nicolaus decreased their target price on 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. Benchmark reiterated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. UBS Group cut their price objective on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Bank of America lifted their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $167.62.

Old Dominion Freight Line Company Profile

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.