Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Boosted by New York Life Investment Management LLC

New York Life Investment Management LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,952 shares of the transportation company's stock after purchasing an additional 2,809 shares during the quarter. New York Life Investment Management LLC's holdings in Old Dominion Freight Line were worth $4,931,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ODFL. Harfst & Associates Inc. raised its holdings in Old Dominion Freight Line by 14.5% in the fourth quarter. Harfst & Associates Inc. now owns 11,160 shares of the transportation company's stock valued at $1,969,000 after buying an additional 1,417 shares during the period. SRN Advisors LLC increased its position in shares of Old Dominion Freight Line by 2.0% in the fourth quarter. SRN Advisors LLC now owns 5,961 shares of the transportation company's stock worth $1,052,000 after acquiring an additional 117 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $35,000. Checchi Capital Advisers LLC lifted its holdings in shares of Old Dominion Freight Line by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,323 shares of the transportation company's stock valued at $410,000 after acquiring an additional 77 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in Old Dominion Freight Line by 10.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,255 shares of the transportation company's stock worth $398,000 after purchasing an additional 215 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded up $3.84 during trading hours on Tuesday, hitting $176.12. The stock had a trading volume of 1,907,357 shares, compared to its average volume of 1,527,817. The stock's fifty day simple moving average is $187.41 and its 200 day simple moving average is $197.11. The firm has a market capitalization of $37.43 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 2.89 and a beta of 1.05. 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 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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 net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 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. Shareholders of record on Wednesday, March 5th will be paid 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 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley boosted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Evercore ISI increased their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. Barclays dropped their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $203.72.

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.