Rhumbline Advisers Buys 12,741 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Rhumbline Advisers increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 405,103 shares of the transportation company's stock after acquiring an additional 12,741 shares during the period. Rhumbline Advisers owned about 0.19% of Old Dominion Freight Line worth $67,024,000 at the end of the most recent reporting period.

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 in the 4th quarter worth approximately $35,000. Itau Unibanco Holding S.A. boosted its position in 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 last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $51,000. CoreCap Advisors LLC grew its stake in Old Dominion Freight Line by 98.2% during 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. Finally, LRI Investments LLC increased its holdings in Old Dominion Freight Line by 72.0% in the fourth quarter. LRI Investments LLC now owns 368 shares of the transportation company's stock worth $65,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ODFL. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 price objective on the stock. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the company an "underweight" rating in a research report on Thursday, April 24th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Finally, Truist Financial lowered their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $180.42.

Old Dominion Freight Line Stock Performance

ODFL traded down $1.81 during trading hours on Thursday, hitting $159.68. The stock had a trading volume of 1,316,386 shares, compared to its average volume of 1,840,272. The stock has a market cap of $33.74 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company's fifty day simple moving average is $159.04 and its 200 day simple moving average is $178.93.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business 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 dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

About Old Dominion Freight Line

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.