Wellington Management Group LLP Sells 45,976 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wellington Management Group LLP lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,389,252 shares of the transportation company's stock after selling 45,976 shares during the quarter. Wellington Management Group LLP owned about 0.65% of Old Dominion Freight Line worth $245,064,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ODFL. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $51,000. Versant Capital Management Inc boosted its position in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 2.4 %

Shares of Old Dominion Freight Line stock traded down $3.69 during trading on Friday, reaching $152.06. The company's stock had a trading volume of 3,326,316 shares, compared to its average volume of 1,646,353. 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 52-week low of $147.06 and a 52-week high of $233.26. The firm's 50-day moving average is $179.81 and its two-hundred day moving average is $192.48. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25.

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. 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. Old Dominion Freight Line's dividend payout ratio is 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of several analyst reports. Stifel Nicolaus raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and raised their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Stephens reiterated an "overweight" rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Barclays dropped their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating on the stock in a report on Wednesday. Morgan Stanley lifted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $199.70.

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.