Arete Wealth Advisors LLC Invests $304,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Arete Wealth Advisors LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,716 shares of the transportation company's stock, valued at approximately $304,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Old Dominion Freight Line by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after purchasing an additional 96,410 shares in the last quarter. Norges Bank bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. Wellington Management Group LLP lifted its holdings in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after purchasing an additional 46,570 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after purchasing an additional 573,586 shares during the period. Institutional investors own 77.82% of the company's stock.

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Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded down $4.52 during trading on Friday, hitting $152.23. 2,640,834 shares of the company's stock traded hands, compared to its average volume of 1,676,336. Old Dominion Freight Line, Inc. has a twelve month low of $145.79 and a twelve month high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $32.36 billion, a PE ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25. The firm's fifty day moving average price is $175.40 and its 200 day moving average price is $190.47.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is currently 18.98%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ODFL shares. Stephens reissued an "overweight" rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Truist Financial began coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective on the stock. Finally, Jefferies Financial Group decreased their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $195.75.

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.