Murphy & Mullick Capital Management Corp Purchases New Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 290 shares of the transportation company’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ODFL. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the 3rd quarter worth $45,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $41,000. Brown Brothers Harriman & Co. grew its stake in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of 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 valued at $62,000 after purchasing an additional 110 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 0.9 %

ODFL stock opened at $170.23 on Friday. The stock has a 50-day simple moving average of $183.12 and a two-hundred day simple moving average of $193.71. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26. The firm has a market capitalization of $36.18 billion, a PE ratio of 31.06, a PEG 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) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.66%. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ODFL shares. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays dropped their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Truist Financial began coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $201.40.

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.