Chevy Chase Trust Holdings LLC Has $20.58 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chevy Chase Trust Holdings LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 103,605 shares of the transportation company’s stock after purchasing an additional 4,695 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Old Dominion Freight Line were worth $20,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $25,000. LRI Investments LLC grew its stake in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 79 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Cullen Frost Bankers Inc. raised its stake in Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of several recent research reports. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price target for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Stephens reiterated an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $200.41.

Old Dominion Freight Line Stock Down 2.8 %

Shares of NASDAQ:ODFL opened at $218.59 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The business’s 50 day simple moving average is $207.26 and its two-hundred day simple moving average is $194.29. The firm has a market cap of $46.67 billion, a P/E ratio of 38.22, a PEG ratio of 4.70 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $1.54 EPS. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

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.