Cibc World Markets Corp Has $6.10 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Cibc World Markets Corp boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 12.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,571 shares of the transportation company's stock after buying an additional 3,886 shares during the period. Cibc World Markets Corp's holdings in Old Dominion Freight Line were worth $6,098,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Avanza Fonder AB acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank grew its position in Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock valued at $19,479,000 after acquiring an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC grew its position in Old Dominion Freight Line by 10.4% in the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after acquiring an additional 2,060 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 2.5 %

ODFL traded up $4.09 during trading on Friday, reaching $165.22. The company had a trading volume of 3,629,672 shares, compared to its average volume of 1,566,945. The firm's 50-day simple moving average is $184.41 and its 200 day simple moving average is $194.30. The company has a market cap of $35.12 billion, a price-to-earnings ratio of 30.15, a PEG 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. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results 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 return on equity of 28.02% and a net margin of 20.40%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is 18.98%.

Analysts Set New Price Targets

Several analysts have issued reports on ODFL shares. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective for the company. Evercore ISI raised their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. StockNews.com raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, Susquehanna reissued a "neutral" rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $202.65.

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.