Sei Investments Co. Boosts Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sei Investments Co. increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,415 shares of the transportation company’s stock after buying an additional 3,227 shares during the period. Sei Investments Co.’s holdings in Old Dominion Freight Line were worth $8,198,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Vanguard Group Inc. grew its position in shares of Old Dominion Freight Line by 100.9% during the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares during the period. Capital World Investors raised its stake in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after buying an additional 815,817 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.7 %

ODFL opened at $196.71 on Monday. The stock has a market capitalization of $42.74 billion, a PE ratio of 34.63, a P/E/G ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50 day moving average price is $196.22 and its 200 day moving average price is $194.79.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 EPS. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.62 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James upped their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. TD Cowen decreased their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Evercore ISI reiterated an “in-line” rating and set a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $201.83.

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.