Golden State Wealth Management LLC Takes $327,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Golden State Wealth Management LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,851 shares of the transportation company's stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $41,000. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. raised its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after purchasing an additional 215 shares during the last quarter. Versant Capital Management Inc raised its stake in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $64,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $2.75 on Wednesday, hitting $203.02. 1,444,747 shares of the stock traded hands, compared to its average volume of 1,533,645. 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 company has a market capitalization of $43.34 billion, a PE ratio of 37.05, a PEG ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company's fifty day moving average is $189.37 and its 200 day moving average is $197.74.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share 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. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of a number of research analyst reports. Susquehanna reaffirmed a "neutral" rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Barclays dropped their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned 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 $203.33.

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.