American Century Companies Inc. Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

American Century Companies Inc. grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 21.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 204,391 shares of the transportation company’s stock after acquiring an additional 36,229 shares during the period. American Century Companies Inc. owned about 0.10% of Old Dominion Freight Line worth $36,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line in the fourth quarter valued at about $41,000. Brown Brothers Harriman & Co. raised its stake in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ODFL shares. Barclays dropped their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. The Goldman Sachs Group raised their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Citigroup cut their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $201.40.

Old Dominion Freight Line Stock Down 3.2 %

Shares of Old Dominion Freight Line stock opened at $164.85 on Friday. The stock has a 50-day simple moving average of $182.63 and a 200-day simple moving average of $193.54. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26. The firm has a market cap of $35.04 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.