Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,373 shares of the transportation company's stock after selling 22,454 shares during the period. William Blair Investment Management LLC owned 0.10% of Old Dominion Freight Line worth $37,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $271,000. Huntington National Bank boosted its stake in Old Dominion Freight Line by 20.5% during the third quarter. Huntington National Bank now owns 911 shares of the transportation company's stock worth $181,000 after buying an additional 155 shares during the period. Empowered Funds LLC boosted its stake in Old Dominion Freight Line by 6.0% during the third quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company's stock worth $704,000 after buying an additional 199 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Old Dominion Freight Line by 2.9% during the third quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company's stock valued at $5,201,000 after acquiring an additional 747 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in shares of Old Dominion Freight Line by 8.5% in the 3rd quarter. Meeder Advisory Services Inc. now owns 3,835 shares of the transportation company's stock valued at $762,000 after acquiring an additional 301 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

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Analyst Ratings Changes

A number of research firms have commented on ODFL. The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Barclays decreased their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. StockNews.com upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. Evercore ISI raised their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus price target of $202.65.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded up $4.09 during mid-day trading on Friday, hitting $165.22. 3,629,672 shares of the stock were exchanged, compared to its average volume of 1,565,031. The stock's fifty day simple moving average is $184.63 and its two-hundred day simple moving average is $194.49. 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, Inc. has a 12-month low of $157.90 and a 12-month high of $233.26. The stock has a market capitalization of $35.12 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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 return on equity of 28.02% and a net margin of 20.40%. On average, analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is presently 18.98%.

Old Dominion Freight Line 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.