34,475 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Purchased by Aquatic Capital Management LLC

Aquatic Capital Management LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 34,475 shares of the transportation company's stock, valued at approximately $6,081,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ODFL. Wilmington Savings Fund Society FSB acquired a new position in Old Dominion Freight Line in the third quarter valued at about $1,718,000. Synovus Financial Corp raised its stake in Old Dominion Freight Line by 2.4% in the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company's stock valued at $866,000 after purchasing an additional 101 shares in the last quarter. Franklin Resources Inc. raised its stake in Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock worth $207,068,000 after acquiring an additional 437,700 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in Old Dominion Freight Line during the third quarter worth about $16,691,000. Finally, Retirement Systems of Alabama raised its stake in Old Dominion Freight Line by 5.2% during the third quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company's stock worth $8,213,000 after acquiring an additional 2,044 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 0.4 %

ODFL traded up $0.65 during midday trading on Tuesday, hitting $149.65. The company had a trading volume of 2,025,949 shares, compared to its average volume of 1,675,925. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.89 and a beta of 1.25. The stock's 50 day moving average price is $163.30 and its 200 day moving average price is $186.94.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.75%. Old Dominion Freight Line's payout ratio is presently 21.01%.

Analysts Set New Price Targets

Several research analysts have commented on ODFL shares. Bank of America lowered their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a "buy" rating and a $236.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial lowered their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $182.95.

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.