BNP Paribas Financial Markets Has $78.78 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

BNP Paribas Financial Markets boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 54.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,610 shares of the transportation company's stock after buying an additional 158,309 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.21% of Old Dominion Freight Line worth $78,782,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. raised its position in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $41,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 45.5% in the fourth 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. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ODFL shares. JPMorgan Chase & Co. decreased their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Truist Financial lowered their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Susquehanna lowered their price objective on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Bank of America cut their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $183.37.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $156.23 on Tuesday. 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 debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50 day moving average price of $161.30 and a two-hundred day moving average price of $185.52. The firm has a market capitalization of $33.14 billion, a P/E ratio of 28.51, a P/E/G ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business earned $1.34 EPS. The business's revenue was down 5.8% on a year-over-year basis. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

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.

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