KLP Kapitalforvaltning AS Makes New $12.03 Million Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

KLP Kapitalforvaltning AS bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 68,200 shares of the transportation company’s stock, valued at approximately $12,030,000.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the fourth quarter worth $35,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter worth about $45,000. Brown Brothers Harriman & Co. grew its position in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Old Dominion Freight Line by 45.5% during 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 last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 2.5 %

Shares of ODFL stock opened at $165.22 on Monday. 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 52-week low of $157.67 and a 52-week high of $233.26. The company has a market capitalization of $35.12 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The business’s fifty day moving average is $184.41 and its 200 day moving average is $194.29.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Stephens reissued an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line 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.