KLP Kapitalforvaltning AS Invests $12.03 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

KLP Kapitalforvaltning AS bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 68,200 shares of the transportation company's stock, valued at approximately $12,030,000.

A number of other large investors also recently added to or reduced their stakes in the business. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $3,741,000. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $128,221,000. Toronto Dominion Bank raised its holdings in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock valued at $19,479,000 after buying an additional 42,880 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $630,000. Finally, Board of the Pension Protection Fund bought a new position in Old Dominion Freight Line during the 4th quarter valued at approximately $600,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded down $5.38 on Friday, hitting $164.85. The stock had a trading volume of 1,285,770 shares, compared to its average volume of 1,626,009. The business's 50-day simple moving average is $182.63 and its two-hundred day simple moving average is $193.54. The stock has a market cap of $35.04 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

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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 earnings per share (EPS) 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, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is a positive change 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 dividend yield of 0.68%. Old Dominion Freight Line's dividend payout ratio is 18.98%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Evercore ISI lifted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a report on Thursday, February 6th. Barclays reduced their price target on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company lowered their price objective 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. Jefferies Financial Group upped their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a report on Friday, January 10th. Finally, Truist Financial assumed coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price for the company. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus price target of $201.40.

Old Dominion Freight Line Company 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.