TD Asset Management Inc. Acquires 51,574 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

TD Asset Management Inc. grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 674,768 shares of the transportation company's stock after purchasing an additional 51,574 shares during the quarter. TD Asset Management Inc. owned approximately 0.32% of Old Dominion Freight Line worth $119,029,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. ICW Investment Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 4.1% during the fourth quarter. ICW Investment Advisors LLC now owns 2,089 shares of the transportation company's stock worth $368,000 after purchasing an additional 83 shares during the period. Stevens Capital Management LP raised its position in Old Dominion Freight Line by 58.9% during the 4th quarter. Stevens Capital Management LP now owns 1,954 shares of the transportation company's stock valued at $345,000 after purchasing an additional 724 shares during the last quarter. LPL Financial LLC grew its position in shares of Old Dominion Freight Line by 11.9% in the 4th quarter. LPL Financial LLC now owns 127,572 shares of the transportation company's stock worth $22,504,000 after buying an additional 13,606 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $12,030,000. Finally, AXQ Capital LP raised its holdings in shares of Old Dominion Freight Line by 114.8% during the fourth quarter. AXQ Capital LP now owns 4,268 shares of the transportation company's stock valued at $753,000 after acquiring an additional 2,281 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock traded down $5.38 during trading on Friday, reaching $164.85. The company's stock had a trading volume of 1,285,770 shares, compared to its average volume of 1,626,009. The company's fifty day moving average is $182.63 and its 200-day moving average is $193.55. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. The company has a market capitalization of $35.04 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current 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%. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Citigroup lowered their price objective on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 price target on the stock. Finally, Stephens reissued an "overweight" rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $201.40.

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.