Bryce Point Capital LLC Invests $1.36 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bryce Point Capital LLC acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,723 shares of the transportation company's stock, valued at approximately $1,362,000.

Other large investors also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in Old Dominion Freight Line by 62.7% in the third quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company's stock valued at $1,443,000 after purchasing an additional 2,800 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company's stock valued at $301,000 after buying an additional 56 shares during the period. Captrust Financial Advisors raised its holdings in shares of Old Dominion Freight Line by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company's stock valued at $1,490,000 after buying an additional 124 shares during the period. Erste Asset Management GmbH acquired a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $4,402,000. Finally, Benjamin Edwards Inc. boosted its holdings in Old Dominion Freight Line by 1,448.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,230 shares of the transportation company's stock worth $443,000 after acquiring an additional 2,086 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

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Old Dominion Freight Line Stock Performance

ODFL traded down $3.69 during trading on Friday, reaching $152.06. 3,326,316 shares of the company were exchanged, compared to its average volume of 1,646,353. 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 cap of $32.32 billion, a P/E ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52 week low of $147.06 and a 52 week high of $233.26. The firm has a 50 day moving average of $179.81 and a 200 day moving average of $192.51.

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, 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%. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed 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 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 0.74%. Old Dominion Freight Line's payout ratio is currently 18.98%.

Analysts Set New Price Targets

A number of research firms have recently commented on ODFL. Bank of America reduced their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Evercore ISI upped their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. Jefferies Financial Group lifted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a research report on Friday, January 10th. Barclays reduced their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on 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. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $199.70.

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.