GF Fund Management CO. LTD. Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

GF Fund Management CO. LTD. bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 40,463 shares of the transportation company's stock, valued at approximately $7,138,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its holdings in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after acquiring an additional 55 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after purchasing an additional 55 shares during the period. Evergreen Private Wealth LLC boosted its stake in Old Dominion Freight Line by 0.9% in 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. Lido Advisors LLC boosted its stake in Old Dominion Freight Line by 3.2% in the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock worth $340,000 after purchasing an additional 59 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 0.3%

ODFL stock traded down $0.42 during midday trading on Thursday, reaching $162.01. The company's stock had a trading volume of 1,301,393 shares, compared to its average volume of 1,660,234. 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 fifty day simple moving average of $159.74 and a two-hundred day simple moving average of $181.11. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The firm has a market capitalization of $34.24 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. Old Dominion Freight Line's payout ratio is 21.01%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price target for the company. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Stephens reissued an "overweight" rating and issued a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. UBS Group cut their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.