Marshall Wace LLP Buys 5,847 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Marshall Wace LLP raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 423.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,229 shares of the transportation company's stock after acquiring an additional 5,847 shares during the period. Marshall Wace LLP's holdings in Old Dominion Freight Line were worth $1,275,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ODFL. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $35,000. Synergy Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $41,000. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Versant Capital Management Inc raised its holdings in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after buying an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded up $7.45 during trading on Friday, reaching $158.01. 2,628,110 shares of the company traded hands, compared to its average volume of 1,684,715. 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, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The firm has a market capitalization of $33.52 billion, a PE ratio of 28.83, a PEG ratio of 2.89 and a beta of 1.25. The company's 50 day moving average is $161.69 and its two-hundred day moving average is $186.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $1.34 EPS. The business's quarterly revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.71%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ODFL shares. Stifel Nicolaus dropped their price objective on shares of 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. Evercore ISI reduced their price objective on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Truist Financial dropped their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, UBS Group reduced their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $183.37.

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.