Headlands Technologies LLC Purchases New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Headlands Technologies LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,330 shares of the transportation company's stock, valued at approximately $411,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Hantz Financial Services Inc. grew its holdings in shares of Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. lifted its position in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after purchasing an additional 55 shares during the period. Evergreen Private Wealth LLC grew its stake in Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after buying an additional 59 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after buying an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after buying an additional 62 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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Old Dominion Freight Line Trading Up 11.6 %

Shares of NASDAQ:ODFL traded up $17.15 during trading on Wednesday, reaching $165.49. The stock had a trading volume of 3,158,093 shares, compared to its average volume of 1,664,418. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $145.79 and a 52 week high of $233.26. The firm's fifty day moving average is $176.54 and its 200 day moving average is $191.09.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 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%. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.68%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is 18.98%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $186.00 to $183.00 in a research report on Tuesday. UBS Group lowered their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday. Jefferies Financial Group dropped their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on shares of 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. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $195.75.

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.