Mackenzie Financial Corp Acquires 1,796 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mackenzie Financial Corp grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,187 shares of the transportation company's stock after purchasing an additional 1,796 shares during the period. Mackenzie Financial Corp's holdings in Old Dominion Freight Line were worth $3,385,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $35,000. Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 192 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $51,000. Finally, CoreCap Advisors LLC lifted its position in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 1.9%

ODFL traded up $3.03 on Tuesday, reaching $163.03. 1,367,609 shares of the company traded hands, compared to its average volume of 1,654,049. The company has a market cap of $34.45 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.89 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock's 50 day moving average price is $159.11 and its 200-day moving average price is $179.05. 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, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company posted $1.34 EPS. Old Dominion Freight Line's revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company 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 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 dividend payout ratio (DPR) is currently 21.01%.

Analysts Set New Price Targets

A number of research firms have recently commented on ODFL. Stephens reissued an "overweight" rating and issued a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line 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. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays dropped their target price on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $180.42.

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.