Davidson Kahn Capital Management LLC Takes $844,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Davidson Kahn Capital Management LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,786 shares of the transportation company's stock, valued at approximately $844,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $35,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $51,000. 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 purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $69,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 4.9 %

Shares of Old Dominion Freight Line stock traded up $7.45 on Friday, reaching $158.01. 2,628,110 shares of the company's stock were exchanged, compared to its average volume of 1,684,895. The firm's 50-day moving average is $161.69 and its two-hundred day moving average is $185.93. The company has a market capitalization of $33.52 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. 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 52 week low of $144.90 and a 52 week high of $233.26.

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, topping analysts' consensus estimates 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 analysts' expectations of $1.38 billion. During the same period last year, the company posted $1.34 earnings per share. The business's quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is 21.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective for the company. Raymond James set a $185.00 price objective on Old Dominion Freight Line and gave the company an "outperform" rating in a report on Thursday, April 24th. Evercore ISI lowered their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group cut their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays lowered their price objective on 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $183.37.

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.