Kayne Anderson Rudnick Investment Management LLC Boosts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 541,540 shares of the transportation company's stock after acquiring an additional 14,883 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.25% of Old Dominion Freight Line worth $95,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $1,718,000. Synovus Financial Corp increased its position in Old Dominion Freight Line by 2.4% during the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company's stock worth $866,000 after buying an additional 101 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock worth $207,068,000 after acquiring an additional 437,700 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at $16,691,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Old Dominion Freight Line by 5.2% during the third quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company's stock valued at $8,213,000 after acquiring an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 3.7 %

Shares of NASDAQ:ODFL traded up $5.67 during midday trading on Thursday, hitting $158.90. 1,834,830 shares of the company's stock traded hands, compared to its average volume of 1,685,626. The firm's fifty day moving average price is $167.57 and its two-hundred day moving average price is $188.17. 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 twelve month low of $145.79 and a twelve month high of $233.26. The company has a market cap of $33.77 billion, a PE ratio of 29.00, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given 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 yield of 0.70%. Old Dominion Freight Line's dividend payout ratio (DPR) is 20.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ODFL shares. Stephens reissued an "overweight" rating and issued a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday. Susquehanna reduced their price objective on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday. UBS Group cut their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Barclays decreased their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $183.20.

About Old Dominion Freight Line

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.