Wilkinson Global Asset Management LLC Cuts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wilkinson Global Asset Management LLC reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,686 shares of the transportation company's stock after selling 3,803 shares during the period. Old Dominion Freight Line accounts for approximately 1.1% of Wilkinson Global Asset Management LLC's portfolio, making the stock its 27th largest position. Wilkinson Global Asset Management LLC's holdings in Old Dominion Freight Line were worth $17,937,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth about $41,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line in the third quarter worth about $45,000. Brown Brothers Harriman & Co. lifted its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after buying an additional 215 shares during the period. Versant Capital Management Inc lifted its holdings in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after buying an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Old Dominion Freight Line in the third quarter worth about $64,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Barclays cut their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Argus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, Citigroup upped their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $203.33.

Old Dominion Freight Line Stock Down 8.5 %

Shares of Old Dominion Freight Line stock traded down $16.85 on Friday, reaching $180.40. The stock had a trading volume of 5,678,881 shares, compared to its average volume of 1,638,226. The company has a 50 day moving average price of $188.96 and a 200 day moving average price of $197.81. 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, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The stock has a market capitalization of $38.52 billion, a P/E ratio of 32.92, a P/E/G ratio of 3.01 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is presently 18.98%.

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.