Aquatic Capital Management LLC Invests $6.08 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Aquatic Capital Management LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 34,475 shares of the transportation company's stock, valued at approximately $6,081,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its stake in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after acquiring an additional 55 shares during the last quarter. Evergreen Private Wealth LLC grew its holdings in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after purchasing an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after purchasing an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Old Dominion Freight Line by 0.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after acquiring an additional 62 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent research reports. Evercore ISI dropped their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. UBS Group lowered their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective for the company. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Barclays decreased their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $183.37.

Old Dominion Freight Line Trading Down 1.8 %

ODFL traded down $2.72 during midday trading on Thursday, hitting $150.56. The company's stock had a trading volume of 2,153,657 shares, compared to its average volume of 1,682,355. The firm has a market cap of $31.94 billion, a P/E ratio of 27.47, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $162.75 and a two-hundred day moving average price of $186.71.

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

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is presently 21.01%.

About Old Dominion Freight Line

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.