American Century Companies Inc. Increases Holdings in Old Dominion Freight Line, Inc. $ODFL

American Century Companies Inc. boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,612 shares of the transportation company’s stock after buying an additional 48,908 shares during the period. American Century Companies Inc. owned 0.16% of Old Dominion Freight Line worth $54,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stephens Inc. AR raised its holdings in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after acquiring an additional 67 shares during the period. YANKCOM Partnership increased its position in Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after purchasing an additional 68 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Old Dominion Freight Line by 3.1% during the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after purchasing an additional 71 shares during the period. iA Global Asset Management Inc. boosted its holdings in Old Dominion Freight Line by 0.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares during the last quarter. Finally, STF Management LP boosted its holdings in Old Dominion Freight Line by 2.4% in the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 77 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $134.91 on Friday. The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. The business has a 50-day moving average of $137.61 and a 200 day moving average of $151.08. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $228.72.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s payout ratio is 22.54%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ODFL shares. Stifel Nicolaus cut their price target on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a report on Tuesday, October 28th. Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Rothschild & Co Redburn assumed coverage on Old Dominion Freight Line in a research note on Wednesday. They set a “sell” rating and a $114.00 target price for the company. The Goldman Sachs Group reduced their target price on Old Dominion Freight Line from $186.00 to $181.00 in a research report on Thursday, October 30th. Finally, Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $157.27.

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.