Oxford Asset Management LLP Takes $757,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Oxford Asset Management LLP purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,292 shares of the transportation company's stock, valued at approximately $757,000.

A number of other hedge funds also recently modified their holdings of ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $494,916,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $128,221,000. Raymond James Financial Inc. purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $114,449,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after acquiring an additional 573,586 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ODFL. Barclays dropped their target price on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Bank of America dropped their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Raymond James set a $185.00 target price on Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $182.95.

Old Dominion Freight Line Price Performance

ODFL traded up $0.65 during trading on Tuesday, reaching $149.65. The stock had a trading volume of 2,025,949 shares, compared to its average volume of 1,675,925. The stock has a market cap of $31.75 billion, a PE ratio of 27.31, a PEG 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 one year low of $144.90 and a one year high of $233.26. The business has a 50-day moving average of $163.30 and a 200-day moving average of $186.94.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. 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. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The firm's revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts anticipate 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. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

Old Dominion Freight Line Company 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.