American Century Companies Inc. Has $52.84 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

American Century Companies Inc. raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 375,352 shares of the transportation company’s stock after acquiring an additional 37,740 shares during the period. American Century Companies Inc. owned about 0.18% of Old Dominion Freight Line worth $52,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares in the last quarter. Truist Financial Corp boosted its stake in Old Dominion Freight Line by 12.9% during the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock valued at $12,405,000 after buying an additional 10,046 shares during the period. Wilson Asset Management International PTY Ltd. purchased a new position in Old Dominion Freight Line during the third quarter worth about $4,307,000. Atlantic Union Bankshares Corp purchased a new position in Old Dominion Freight Line during the third quarter worth about $1,999,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Old Dominion Freight Line by 10.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,271 shares of the transportation company’s stock worth $11,441,000 after acquiring an additional 7,709 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 2.5%

NASDAQ ODFL opened at $210.68 on Friday. The firm has a market cap of $43.91 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 10.77 and a beta of 1.23. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $221.63. The stock has a 50-day moving average of $183.31 and a 200-day moving average of $157.72.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

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

Insider Transactions at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction that occurred 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 directly owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ODFL has been the topic of several research analyst reports. UBS Group restated a “neutral” rating and issued a $202.00 price objective (up from $164.00) on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. JPMorgan Chase & Co. increased their price target on shares of Old Dominion Freight Line from $150.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, January 8th. Citigroup reaffirmed a “neutral” rating and set a $216.00 price objective (up from $196.00) on shares of Old Dominion Freight Line in a report on Friday, February 6th. Finally, Barclays set a $185.00 target price on Old Dominion Freight Line in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $190.50.

About Old Dominion Freight Line

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.