Mariner LLC lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,871 shares of the transportation company's stock after selling 11,805 shares during the quarter. Mariner LLC's holdings in Old Dominion Freight Line were worth $4,564,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Menora Mivtachim Holdings LTD. acquired a new position in Old Dominion Freight Line in the 4th quarter worth about $79,380,000. Taurus Asset Management LLC grew its holdings in shares of Old Dominion Freight Line by 2.1% during the fourth quarter. Taurus Asset Management LLC now owns 64,481 shares of the transportation company's stock worth $11,374,000 after purchasing an additional 1,305 shares during the last quarter. Savvy Advisors Inc. acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $435,000. Summit Investment Advisors Inc. raised its holdings in Old Dominion Freight Line by 2.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,268 shares of the transportation company's stock valued at $2,517,000 after buying an additional 345 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its position in Old Dominion Freight Line by 2.1% during the 4th quarter. Granite Investment Partners LLC now owns 93,945 shares of the transportation company's stock worth $16,572,000 after buying an additional 1,941 shares during the period. 77.82% of the stock is owned by institutional investors.
Old Dominion Freight Line Stock Down 6.9 %
Shares of NASDAQ ODFL traded down $10.90 during mid-day trading on Friday, reaching $148.00. 1,726,989 shares of the company's stock traded hands, compared to its average volume of 1,675,170. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50-day simple moving average of $166.62 and a 200 day simple moving average of $187.97. The stock has a market cap of $31.46 billion, a P/E ratio of 27.04, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1-year low of $145.79 and a 1-year high of $233.26.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. On average, analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.76%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is currently 20.44%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on ODFL. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research report on Thursday. Stephens restated an "overweight" rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 price target on the stock. Finally, Jefferies Financial Group lowered their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $182.95.
Get Our Latest Stock Analysis on ODFL
About Old Dominion Freight Line
(
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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