Squarepoint Ops LLC Grows Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Squarepoint Ops LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 104.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,162 shares of the transportation company's stock after purchasing an additional 19,001 shares during the quarter. Squarepoint Ops LLC's holdings in Old Dominion Freight Line were worth $6,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ODFL. Merit Financial Group LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $275,000. Janney Montgomery Scott LLC boosted its stake in Old Dominion Freight Line by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 86,701 shares of the transportation company's stock valued at $15,294,000 after acquiring an additional 6,046 shares during the last quarter. Brighton Jones LLC boosted its stake in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. Fifth Third Bancorp boosted its stake in Old Dominion Freight Line by 2.2% in the fourth quarter. Fifth Third Bancorp now owns 8,564 shares of the transportation company's stock valued at $1,511,000 after acquiring an additional 181 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in Old Dominion Freight Line by 7.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,278 shares of the transportation company's stock valued at $1,460,000 after acquiring an additional 603 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded down $1.42 during midday trading on Friday, reaching $160.59. 402,799 shares of the stock were exchanged, compared to its average volume of 1,652,962. The company's fifty day moving average is $159.58 and its 200-day moving average is $180.63. 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 firm has a market cap of $33.94 billion, a PE ratio of 29.26, a PEG ratio of 2.89 and a beta of 1.31. 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 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. The business 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%. Old Dominion Freight Line's revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 EPS. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Barclays lowered their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus 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.