Sone Capital Management LLC Purchases New Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sone Capital Management LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,235 shares of the transportation company's stock, valued at approximately $5,333,000.

A number of other hedge funds have also modified their holdings of ODFL. Norges Bank acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $494,916,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 1,575.9% in the 4th 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 acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $114,449,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after acquiring an additional 573,586 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.4%

Shares of NASDAQ:ODFL traded down $0.59 on Thursday, reaching $163.60. The company had a trading volume of 1,264,360 shares, compared to its average volume of 1,670,612. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26. The stock has a 50-day moving average price of $159.82 and a 200 day moving average price of $183.02. The stock has a market capitalization of $34.57 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.89 and a beta of 1.31. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business's quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ODFL shares. Stifel Nicolaus lowered their price target on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a report on Wednesday, April 2nd. Truist Financial lowered their price target on 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. Finally, Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the company an "outperform" rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $182.26.

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.