Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 65.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,391 shares of the transportation company's stock after selling 31,555 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Old Dominion Freight Line were worth $2,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. State Street Corp lifted its holdings in Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock valued at $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company's stock valued at $959,005,000 after buying an additional 275,236 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock valued at $285,094,000 after buying an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company's stock worth $264,157,000 after acquiring an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after acquiring an additional 46,570 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

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Old Dominion Freight Line Stock Down 3.2 %

Shares of NASDAQ ODFL traded down $5.38 during trading on Friday, reaching $164.85. 1,285,770 shares of the stock were exchanged, compared to its average volume of 1,626,009. The company has a market capitalization of $35.04 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The business's 50-day moving average price is $182.63 and its 200 day moving average price is $193.55. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26.

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 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, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

Analysts Set New Price Targets

ODFL has been the topic of a number of recent analyst reports. Citigroup reduced their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Evercore ISI increased their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday. Finally, Stephens restated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $201.40.

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.