Farringdon Capital Ltd. Invests $348,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Farringdon Capital Ltd. 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 1,971 shares of the transportation company's stock, valued at approximately $348,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Marshall Wace LLP boosted its stake in Old Dominion Freight Line by 423.1% in the fourth quarter. Marshall Wace LLP now owns 7,229 shares of the transportation company's stock valued at $1,275,000 after acquiring an additional 5,847 shares during the last quarter. Wasatch Advisors LP boosted its position in Old Dominion Freight Line by 2.9% during the fourth quarter. Wasatch Advisors LP now owns 7,084 shares of the transportation company's stock worth $1,250,000 after purchasing an additional 199 shares during the period. NewEdge Advisors LLC increased its stake in shares of Old Dominion Freight Line by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 6,151 shares of the transportation company's stock worth $1,085,000 after purchasing an additional 162 shares in the last quarter. Jump Financial LLC raised its position in shares of Old Dominion Freight Line by 522.8% in the fourth quarter. Jump Financial LLC now owns 27,396 shares of the transportation company's stock valued at $4,833,000 after purchasing an additional 22,997 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Old Dominion Freight Line by 151.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 19,926 shares of the transportation company's stock worth $3,515,000 after acquiring an additional 11,999 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 0.8 %

ODFL stock traded up $1.16 during midday trading on Wednesday, hitting $153.23. The stock had a trading volume of 3,069,444 shares, compared to its average volume of 1,684,043. The business has a 50-day moving average of $168.63 and a two-hundred day moving average of $188.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $32.57 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52-week low of $145.79 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed 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 is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. Old Dominion Freight Line's payout ratio is presently 20.44%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ODFL. Susquehanna decreased their price objective on Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Raymond James lowered their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Evercore ISI raised their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $195.15.

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.