Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by SRN Advisors LLC

SRN Advisors LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,961 shares of the transportation company’s stock after acquiring an additional 117 shares during the quarter. SRN Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of Old Dominion Freight Line by 3.6% in the third quarter. Private Advisor Group LLC now owns 9,638 shares of the transportation company’s stock valued at $1,914,000 after buying an additional 339 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Old Dominion Freight Line by 196.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 20,078 shares of the transportation company’s stock valued at $3,988,000 after acquiring an additional 13,315 shares during the last quarter. Allworth Financial LP boosted its position in shares of Old Dominion Freight Line by 18.8% during the 3rd quarter. Allworth Financial LP now owns 1,427 shares of the transportation company’s stock valued at $283,000 after purchasing an additional 226 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $381,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $514,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.3 %

Old Dominion Freight Line stock opened at $175.69 on Thursday. 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 12 month low of $165.49 and a 12 month high of $233.26. The company’s fifty day simple moving average is $187.92 and its 200-day simple moving average is $197.49. The stock has a market cap of $37.51 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on ODFL shares. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Susquehanna restated a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Citigroup boosted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price target on 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $203.72.

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.