Sciencast Management LP Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sciencast Management LP acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,754 shares of the transportation company's stock, valued at approximately $309,000.

A number of other institutional investors also recently made changes to their positions in the business. Avanza Fonder AB acquired a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $128,221,000. Toronto Dominion Bank lifted its holdings in shares of Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after purchasing an additional 42,880 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth $630,000. Finally, Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the fourth quarter worth $600,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 0.9 %

Shares of NASDAQ ODFL traded up $1.56 during mid-day trading on Thursday, reaching $170.23. The company had a trading volume of 1,260,169 shares, compared to its average volume of 1,572,273. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $36.18 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.89 and a beta of 1.10. The stock has a fifty day moving average of $183.51 and a two-hundred day moving average of $193.88. Old Dominion Freight Line, Inc. has a 12-month low of $157.67 and a 12-month high of $233.26.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.98%.

Analyst Ratings Changes

Several brokerages have weighed in on ODFL. Bank of America cut their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday. Stifel Nicolaus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and upped their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Barclays lowered their target price on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price target for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus target price of $201.40.

Old Dominion Freight Line 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.