Townsquare Capital LLC Has $4.03 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Townsquare Capital LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 50.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,821 shares of the transportation company's stock after purchasing an additional 7,666 shares during the period. Townsquare Capital LLC's holdings in Old Dominion Freight Line were worth $4,026,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts recently weighed in on ODFL shares. Barclays dropped their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price for the company. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their price target for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a "buy" rating and a $220.00 target price on the stock. Finally, StockNews.com downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $195.15.

Old Dominion Freight Line Trading Up 4.0 %

Shares of NASDAQ ODFL traded up $5.90 during midday trading on Friday, reaching $153.75. The stock had a trading volume of 1,456,518 shares, compared to its average volume of 1,671,946. 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 debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company's 50 day moving average price is $171.82 and its 200 day moving average price is $189.29. The firm has a market cap of $32.68 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates 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%. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.73%. Old Dominion Freight Line's payout ratio is 20.44%.

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.