Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by North Growth Management Ltd.

North Growth Management Ltd. cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,000 shares of the transportation company's stock after selling 8,000 shares during the quarter. North Growth Management Ltd.'s holdings in Old Dominion Freight Line were worth $4,560,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock valued at $285,094,000 after acquiring an additional 750,073 shares during the period. International Assets Investment Management LLC lifted its stake in Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock valued at $136,130,000 after buying an additional 681,858 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock worth $207,068,000 after buying an additional 437,700 shares in the last quarter. State Street Corp increased its holdings in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock valued at $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company's stock worth $959,005,000 after purchasing an additional 275,236 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock traded down $2.75 during trading hours on Wednesday, hitting $203.02. 1,444,747 shares of the company's stock traded hands, compared to its average volume of 1,533,645. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a fifty day simple moving average of $189.21 and a 200-day simple moving average of $197.78. The stock has a market capitalization of $43.34 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued 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 is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Evercore ISI raised their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. Barclays cut their price target 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. JPMorgan Chase & Co. increased their price objective 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. Argus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Stephens reaffirmed an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus price target of $203.33.

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.