Northern Trust Corp Grows Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Northern Trust Corp lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,983,857 shares of the transportation company's stock after acquiring an additional 261,305 shares during the quarter. Northern Trust Corp owned approximately 0.93% of Old Dominion Freight Line worth $349,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Old Dominion Freight Line by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 147,682 shares of the transportation company's stock valued at $26,052,000 after purchasing an additional 2,428 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $154,000. Aquatic Capital Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $6,081,000. Oxford Asset Management LLP acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $757,000. Finally, Boothbay Fund Management LLC raised its position in Old Dominion Freight Line by 123.9% during the fourth quarter. Boothbay Fund Management LLC now owns 3,527 shares of the transportation company's stock valued at $622,000 after acquiring an additional 1,952 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Down 1.6 %

Shares of ODFL traded down $2.47 during mid-day trading on Tuesday, reaching $153.77. The company had a trading volume of 180,692 shares, compared to its average volume of 1,677,338. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The firm has a fifty day simple moving average of $161.30 and a 200-day simple moving average of $185.52. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth 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 (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm's revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens reiterated an "overweight" rating and set a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price target for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company set a $150.00 price target on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $183.37.

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.