Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,967 shares of the transportation company's stock after buying an additional 4,514 shares during the quarter. NEOS Investment Management LLC's holdings in Old Dominion Freight Line were worth $4,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $35,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $51,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

ODFL stock traded up $0.75 during trading on Monday, hitting $165.60. The company had a trading volume of 695,716 shares, compared to its average volume of 1,622,423. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. The firm has a 50-day moving average price of $182.63 and a 200-day moving average price of $193.59. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $35.20 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Remove Ads

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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, 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is an increase 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 annualized dividend and a dividend yield of 0.68%. Old Dominion Freight Line's payout ratio is presently 18.98%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and boosted their target price for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price 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. Citigroup decreased their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Jefferies Financial Group increased their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $200.20.

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.