Osterweis Capital Management Inc. Buys 31,644 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Osterweis Capital Management Inc. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 24.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 161,608 shares of the transportation company's stock after acquiring an additional 31,644 shares during the period. Old Dominion Freight Line accounts for approximately 1.3% of Osterweis Capital Management Inc.'s investment portfolio, making the stock its 26th biggest holding. Osterweis Capital Management Inc. owned approximately 0.08% of Old Dominion Freight Line worth $28,507,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Avanza Fonder AB purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $3,741,000. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $128,221,000. Blueshift Asset Management LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $630,000. Board of the Pension Protection Fund acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC raised its holdings in Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock worth $3,854,000 after purchasing an additional 2,060 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ODFL shares. Stephens reiterated an "overweight" rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Barclays decreased 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 research note on Wednesday, April 2nd. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Finally, Truist Financial started coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a "buy" rating and a $220.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $195.15.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded up $2.57 during trading on Tuesday, hitting $152.44. 563,154 shares of the stock were exchanged, compared to its average volume of 1,671,349. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. 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 1-year low of $145.79 and a 1-year high of $233.26. The company's fifty day simple moving average is $169.72 and its 200-day simple moving average is $188.67.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate 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%. Sell-side 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 business 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. This represents a $1.12 annualized dividend and a yield of 0.73%. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 20.44%.

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.