Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 65.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,391 shares of the transportation company’s stock after selling 31,555 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Old Dominion Freight Line were worth $2,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $35,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth about $45,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Brown Brothers Harriman & Co. boosted 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 valued at $53,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $170.05 on Tuesday. Old Dominion Freight Line, Inc. has a one year low of $157.67 and a one year high of $233.26. The stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.89 and a beta of 1.10. The company has a 50-day simple moving average of $184.20 and a 200-day simple moving average of $194.17. 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 (NASDAQ:ODFL) last posted 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 return on equity of 28.02% and a net margin of 20.40%. On average, analysts predict 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analyst Ratings Changes

ODFL has been the topic of several analyst reports. Citigroup reduced their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Stephens reissued an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Barclays cut 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 research note on Monday, March 10th. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price objective for the company from $193.00 to $200.00 in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $202.65.

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.