Scientech Research LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Scientech Research LLC bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,028 shares of the transportation company's stock, valued at approximately $3,180,000. Old Dominion Freight Line accounts for 0.9% of Scientech Research LLC's portfolio, making the stock its 2nd largest holding.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at $35,000. Itau Unibanco Holding S.A. increased its stake in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter worth $41,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $51,000. Finally, CoreCap Advisors LLC grew its holdings in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock valued at $60,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 0.2%

Shares of Old Dominion Freight Line stock traded down $0.33 during trading on Thursday, hitting $163.86. 448,659 shares of the stock traded hands, compared to its average volume of 1,672,564. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock's fifty day simple moving average is $159.82 and its 200 day simple moving average is $183.02. The firm has a market cap of $34.63 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business posted $1.34 EPS. The company's quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of research reports. Truist Financial reduced their price target on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Barclays dropped their price objective on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group lowered their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $182.26.

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.