Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,874 shares of the transportation company’s stock after purchasing an additional 447 shares during the quarter. Allworth Financial LP’s holdings in Old Dominion Freight Line were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Securities Inc. boosted its holdings in shares of Old Dominion Freight Line by 33.0% in the fourth quarter. Principal Securities Inc. now owns 593 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 147 shares during the period. Legacy Capital Wealth Partners LLC boosted its holdings in shares of Old Dominion Freight Line by 42.0% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 1,556 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 460 shares during the period. Congress Asset Management Co. boosted its holdings in shares of Old Dominion Freight Line by 4.9% in the fourth quarter. Congress Asset Management Co. now owns 2,415 shares of the transportation company’s stock valued at $426,000 after acquiring an additional 112 shares during the period. New Mexico Educational Retirement Board boosted its holdings in shares of Old Dominion Freight Line by 2.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 8,950 shares of the transportation company’s stock valued at $1,579,000 after acquiring an additional 200 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 8.5 %

NASDAQ:ODFL opened at $180.40 on Friday. The stock has a fifty day moving average price of $188.96 and a two-hundred day moving average price of $197.81. The stock has a market capitalization of $38.52 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.01 and a beta of 1.05. 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 1 year low of $165.49 and a 1 year high of $233.26.

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, 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%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Citigroup increased their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Susquehanna restated a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays cut their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $203.33.

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.