Franklin Resources Inc. Sells 14,026 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Franklin Resources Inc. lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,008,786 shares of the transportation company's stock after selling 14,026 shares during the quarter. Franklin Resources Inc. owned about 0.47% of Old Dominion Freight Line worth $177,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $494,916,000. Wellington Management Group LLP increased its position in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after buying an additional 750,073 shares during the period. AustralianSuper Pty Ltd bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after acquiring an additional 573,586 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of ODFL traded down $14.35 on Thursday, hitting $155.75. The company's stock had a trading volume of 2,683,419 shares, compared to its average volume of 1,633,055. The company has a market capitalization of $33.10 billion, a PE ratio of 28.42, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a fifty-two week low of $153.07 and a fifty-two week high of $233.26. The company has a 50 day moving average price of $180.59 and a 200 day moving average price of $192.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 0.72%. Old Dominion Freight Line's payout ratio is currently 18.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ODFL. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a "buy" rating and a $220.00 target price on the stock. StockNews.com downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Evercore ISI increased 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. Susquehanna decreased their target price on Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $199.70.

Old Dominion Freight Line 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.