Bristol Gate Capital Partners Inc. cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 517,040 shares of the transportation company's stock after selling 5,968 shares during the period. Old Dominion Freight Line makes up about 4.4% of Bristol Gate Capital Partners Inc.'s portfolio, making the stock its 14th biggest holding. Bristol Gate Capital Partners Inc. owned about 0.24% of Old Dominion Freight Line worth $91,206,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $145,000. Dynamic Technology Lab Private Ltd purchased a new position in Old Dominion Freight Line in the fourth quarter worth about $2,103,000. Resona Asset Management Co. Ltd. bought a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $11,419,000. Quantum Capital Management LLC NJ raised its position in Old Dominion Freight Line by 1.9% during the fourth quarter. Quantum Capital Management LLC NJ now owns 534,004 shares of the transportation company's stock valued at $94,198,000 after purchasing an additional 9,759 shares during the period. Finally, DF Dent & Co. Inc. lifted its stake in shares of Old Dominion Freight Line by 3.9% in the 4th quarter. DF Dent & Co. Inc. now owns 851,614 shares of the transportation company's stock valued at $150,225,000 after purchasing an additional 32,218 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.
Old Dominion Freight Line Stock Down 2.9 %
NASDAQ:ODFL traded down $4.52 during trading hours on Friday, reaching $152.23. The company's stock had a trading volume of 2,640,834 shares, compared to its average volume of 1,676,336. Old Dominion Freight Line, Inc. has a 12 month low of $145.79 and a 12 month high of $233.26. The stock has a 50 day moving average price of $175.40 and a two-hundred day moving average price of $190.47. The company has a market capitalization of $32.36 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. 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 (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data 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 net margin of 20.40% and a return on equity of 28.02%. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.
Old Dominion Freight Line Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.74%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is currently 18.98%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on ODFL shares. StockNews.com lowered Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Evercore ISI raised their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a report on Thursday, February 6th. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. 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 issued a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line has an average rating of "Hold" and an average target price of $195.75.
Check Out Our Latest Stock Report on Old Dominion Freight Line
Old Dominion Freight Line Company Profile
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Free Report)
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.
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