Granite Investment Partners LLC Purchases 1,941 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Granite Investment Partners LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,945 shares of the transportation company's stock after purchasing an additional 1,941 shares during the quarter. Granite Investment Partners LLC's holdings in Old Dominion Freight Line were worth $16,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Avanza Fonder AB purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $3,741,000. AustralianSuper Pty Ltd bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Blueshift Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $630,000. Board of the Pension Protection Fund bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $600,000. Finally, Reliant Investment Management LLC lifted its position in Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock worth $3,854,000 after buying an additional 2,060 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Up 4.0 %

ODFL traded up $5.90 during trading on Friday, reaching $153.75. The stock had a trading volume of 1,456,518 shares, compared to its average volume of 1,671,946. Old Dominion Freight Line, Inc. has a one year low of $145.79 and a one year high of $233.26. The company has a market capitalization of $32.68 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 2.89 and a beta of 1.25. 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's 50 day moving average is $171.82 and its two-hundred day moving average is $189.29.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data 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 net margin of 20.40% and a return on equity of 28.02%. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current 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 of this dividend 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%.

Wall Street Analyst Weigh In

ODFL has been the topic of several research reports. Susquehanna decreased their price target on shares of 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. Evercore ISI boosted 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 note on Thursday, February 6th. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Bank of America lowered their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Raymond James lowered their price objective on Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $195.15.

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.