Kayne Anderson Rudnick Investment Management LLC Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kayne Anderson Rudnick Investment Management LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,540 shares of the transportation company's stock after purchasing an additional 14,883 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.25% of Old Dominion Freight Line worth $95,528,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. increased its stake in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after acquiring an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at $128,221,000. Raymond James Financial Inc. purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $114,449,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after purchasing an additional 573,586 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODFL. Stephens reiterated an "overweight" rating and issued a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price for the company. Barclays reduced their price objective 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. Finally, Wall Street Zen downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Two equities 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $182.26.

Old Dominion Freight Line Stock Down 1.3%

Shares of NASDAQ:ODFL traded down $2.14 during trading on Friday, reaching $159.87. The stock had a trading volume of 641,481 shares, compared to its average volume of 1,653,837. The firm's 50-day simple moving average is $159.58 and its 200 day simple moving average is $180.63. 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, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a market capitalization of $33.78 billion, a P/E ratio of 29.18, a PEG ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm's quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal 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 given a $0.28 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Old Dominion Freight Line 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.