Dearborn Partners LLC Invests $372,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Dearborn Partners LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,108 shares of the transportation company's stock, valued at approximately $372,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Independent Advisor Alliance grew its position in shares of Old Dominion Freight Line by 39.7% in the 4th quarter. Independent Advisor Alliance now owns 4,150 shares of the transportation company's stock valued at $732,000 after buying an additional 1,179 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Old Dominion Freight Line by 3.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 63,442 shares of the transportation company's stock worth $11,191,000 after purchasing an additional 2,302 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Old Dominion Freight Line by 9.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,534 shares of the transportation company's stock worth $7,327,000 after purchasing an additional 3,551 shares in the last quarter. Garrison Bradford & Associates Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.4% in the 4th quarter. Garrison Bradford & Associates Inc. now owns 33,357 shares of the transportation company's stock valued at $5,884,000 after purchasing an additional 134 shares during the last quarter. Finally, Atlantic Union Bankshares Corp boosted its position in shares of Old Dominion Freight Line by 2.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 16,905 shares of the transportation company's stock valued at $2,982,000 after purchasing an additional 332 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 6.1 %

Shares of Old Dominion Freight Line stock opened at $167.03 on Wednesday. The company has a 50-day moving average of $186.91 and a two-hundred day moving average of $196.03. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. 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 $35.50 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Remove Ads

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%. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders 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 dividend yield of 0.67%. The ex-dividend date is 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 18.98%.

Analyst Ratings Changes

ODFL has been the subject of a number of research reports. The Goldman Sachs Group boosted their price objective on 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. Citigroup reduced their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Stephens reissued an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price for the company. Finally, StockNews.com upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $201.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.