Rhumbline Advisers Cuts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Rhumbline Advisers lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 392,362 shares of the transportation company's stock after selling 8,836 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Old Dominion Freight Line worth $69,213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board boosted its stake in Old Dominion Freight Line by 2.3% during the 4th quarter. New Mexico Educational Retirement Board now owns 8,950 shares of the transportation company's stock worth $1,579,000 after purchasing an additional 200 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line during the 4th quarter worth $128,221,000. Vontobel Holding Ltd. boosted its stake in Old Dominion Freight Line by 27.5% during the 4th quarter. Vontobel Holding Ltd. now owns 12,478 shares of the transportation company's stock worth $2,201,000 after purchasing an additional 2,688 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Old Dominion Freight Line by 2.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 76,309 shares of the transportation company's stock worth $13,753,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Avestar Capital LLC boosted its position in shares of Old Dominion Freight Line by 12.0% during the 4th quarter. Avestar Capital LLC now owns 1,258 shares of the transportation company's stock valued at $222,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 2.0 %

NASDAQ:ODFL traded down $4.18 on Wednesday, reaching $205.11. 1,284,880 shares of the company's stock were exchanged, compared to its average volume of 1,520,446. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $43.79 billion, a price-to-earnings ratio of 37.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.05. The business has a fifty day moving average of $189.48 and a 200-day moving average of $197.91. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.

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 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%. As a group, 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. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ODFL. StockNews.com raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday. Evercore ISI boosted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. BMO Capital Markets lowered their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered 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 report on Friday, January 17th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $203.33.

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.