Blueshift Asset Management LLC Takes $630,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Blueshift Asset Management LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,572 shares of the transportation company's stock, valued at approximately $630,000.

Several other institutional investors also recently modified their holdings of the business. Oppenheimer & Co. Inc. purchased a new stake in Old Dominion Freight Line during the third quarter worth about $271,000. Empowered Funds LLC increased its stake in shares of Old Dominion Freight Line by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company's stock worth $704,000 after purchasing an additional 199 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Old Dominion Freight Line by 2.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company's stock worth $5,201,000 after purchasing an additional 747 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Old Dominion Freight Line by 9.7% in the 3rd quarter. Caprock Group LLC now owns 8,956 shares of the transportation company's stock worth $1,779,000 after purchasing an additional 794 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Old Dominion Freight Line by 11.5% in the third quarter. PNC Financial Services Group Inc. now owns 25,718 shares of the transportation company's stock valued at $5,109,000 after purchasing an additional 2,656 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

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Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $2.45 during trading on Tuesday, reaching $167.60. The company had a trading volume of 1,478,554 shares, compared to its average volume of 1,568,571. The company has a fifty day moving average of $184.20 and a two-hundred day moving average of $194.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $35.62 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates 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%. Equities research 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.98%.

Analysts Set New Price Targets

A number of analysts have issued reports on ODFL shares. Stephens reissued an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective on the stock. StockNews.com upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price for the company. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $202.65.

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.