Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,112 shares of the transportation company's stock after acquiring an additional 2,108 shares during the quarter. CIBC Asset Management Inc's holdings in Old Dominion Freight Line were worth $12,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the third quarter valued at $45,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $41,000. Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after buying an additional 215 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Old Dominion Freight Line during the third quarter worth approximately $64,000. Finally, Northwest Investment Counselors LLC bought a new position in Old Dominion Freight Line during the 3rd quarter worth $67,000. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ODFL. Stephens reaffirmed an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. BMO Capital Markets reduced their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Stifel Nicolaus raised their target price on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Finally, Bank of America cut their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus target price of $203.33.

Old Dominion Freight Line Price Performance

ODFL traded down $16.85 on Friday, hitting $180.40. 5,678,881 shares of the company's stock traded hands, compared to its average volume of 1,638,226. 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 company's 50 day simple moving average is $189.37 and its 200-day simple moving average is $197.90. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The firm has a market cap of $38.52 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 3.01 and a beta of 1.05.

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 the consensus estimate 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, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line's payout ratio is 18.98%.

About Old Dominion Freight Line

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.