Banco Santander S.A. Sells 7,764 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Banco Santander S.A. decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,511 shares of the transportation company's stock after selling 7,764 shares during the quarter. Banco Santander S.A.'s holdings in Old Dominion Freight Line were worth $3,618,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ODFL. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $3,741,000. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $128,221,000. Toronto Dominion Bank increased its stake in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock valued at $19,479,000 after acquiring an additional 42,880 shares during the period. Board of the Pension Protection Fund bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after purchasing an additional 2,060 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ODFL. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 price objective on the stock. StockNews.com raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Barclays reduced their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Citigroup reduced their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $201.74.

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Old Dominion Freight Line Stock Down 1.5 %

ODFL stock traded down $2.49 during trading hours on Wednesday, reaching $164.54. 2,344,256 shares of the stock were exchanged, compared to its average volume of 1,553,986. The firm's 50-day moving average is $186.91 and its 200-day moving average is $196.03. The company has a market cap of $34.97 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 12 month low of $164.46 and a 12 month 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities research 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is 18.98%.

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.