Voloridge Investment Management LLC Has $14.60 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Voloridge Investment Management LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,736 shares of the transportation company's stock after selling 141,497 shares during the quarter. Voloridge Investment Management LLC's holdings in Old Dominion Freight Line were worth $14,595,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. grew its holdings 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 worth $40,000 after acquiring an additional 192 shares during the period. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter worth $51,000. Finally, CoreCap Advisors LLC grew its holdings 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 acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ODFL shares. Deutsche Bank Aktiengesellschaft started coverage on 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. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Bank of America upped their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $182.26.

Old Dominion Freight Line Trading Down 0.6%

Shares of Old Dominion Freight Line stock traded down $0.96 during trading hours on Thursday, reaching $161.47. The stock had a trading volume of 301,510 shares, compared to its average volume of 1,656,386. The firm has a 50 day simple moving average of $159.74 and a two-hundred day simple moving average of $181.11. The firm has a market capitalization of $34.12 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 2.89 and a beta of 1.31. 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 1 year low of $144.90 and a 1 year 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 (EPS) for the quarter, beating 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 business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $1.34 earnings per share. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

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.