Chevy Chase Trust Holdings LLC Has $17.81 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,940 shares of the transportation company’s stock after selling 2,665 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Old Dominion Freight Line were worth $17,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. lifted its holdings in shares of Old Dominion Freight Line by 27.5% during the 4th quarter. Vontobel Holding Ltd. now owns 12,478 shares of the transportation company’s stock valued at $2,201,000 after buying an additional 2,688 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Old Dominion Freight Line by 2.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 76,309 shares of the transportation company’s stock valued at $13,753,000 after buying an additional 1,948 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Old Dominion Freight Line by 12.0% during the 4th quarter. Avestar Capital LLC now owns 1,258 shares of the transportation company’s stock valued at $222,000 after buying an additional 135 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Old Dominion Freight Line by 0.4% in the 4th quarter. Van ECK Associates Corp now owns 42,075 shares of the transportation company’s stock worth $7,422,000 after purchasing an additional 187 shares during the last quarter. Finally, Peterson Wealth Services lifted its holdings in Old Dominion Freight Line by 0.9% in the 4th quarter. Peterson Wealth Services now owns 14,464 shares of the transportation company’s stock worth $2,551,000 after purchasing an additional 130 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ODFL has been the subject of several analyst reports. Barclays reduced their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Robert W. Baird reduced their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, TD Cowen reduced their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Performance

ODFL opened at $206.34 on Friday. The stock has a market cap of $44.05 billion, a PE ratio of 37.65, a P/E/G ratio of 5.30 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The stock’s 50 day simple moving average is $189.35 and its 200-day simple moving average is $197.82.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.54%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

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.