one8zero8 LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,442 shares of the transportation company's stock, valued at approximately $431,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Sigma Planning Corp bought a new position in shares of Old Dominion Freight Line during the third quarter valued at $244,000. Oppenheimer & Co. Inc. bought a new position in shares of Old Dominion Freight Line during the third quarter valued at $271,000. Huntington National Bank lifted its holdings in shares of Old Dominion Freight Line by 20.5% during the third quarter. Huntington National Bank now owns 911 shares of the transportation company's stock valued at $181,000 after purchasing an additional 155 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Old Dominion Freight Line by 8.1% during the third quarter. CIBC Asset Management Inc now owns 67,004 shares of the transportation company's stock valued at $13,310,000 after purchasing an additional 5,041 shares in the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of Old Dominion Freight Line by 2.2% during the third quarter. Empirical Finance LLC now owns 5,956 shares of the transportation company's stock valued at $1,183,000 after purchasing an additional 126 shares in the last quarter. 77.82% of the stock is owned by institutional investors.
Old Dominion Freight Line Price Performance
ODFL traded down $1.31 on Thursday, hitting $161.13. 1,585,684 shares of the company's stock traded hands, compared to its average volume of 1,554,159. The company's 50 day simple moving average is $185.00 and its 200-day simple moving average is $194.72. The firm has a market cap of $34.25 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a one year low of $159.11 and a one year high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. Old Dominion Freight Line's payout ratio is presently 18.98%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on ODFL shares. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Morgan Stanley increased 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. Bank of America lowered their target price on 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $202.65.
Read Our Latest Report on Old Dominion Freight Line
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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