Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,682 shares of the transportation company's stock after buying an additional 2,428 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Old Dominion Freight Line worth $26,052,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bellwether Advisors LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $154,000. Aquatic Capital Management LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $6,081,000. Oxford Asset Management LLP acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $757,000. Boothbay Fund Management LLC grew its stake in Old Dominion Freight Line by 123.9% in the 4th quarter. Boothbay Fund Management LLC now owns 3,527 shares of the transportation company's stock worth $622,000 after acquiring an additional 1,952 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $23,501,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ODFL shares. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a research report on Thursday, April 24th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Raymond James set a $185.00 target price on Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group cut their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $183.37.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $158.01 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $33.52 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The stock has a 50 day moving average of $161.69 and a 200-day moving average of $186.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 EPS. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed 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 represents a $1.12 annualized dividend and a yield of 0.71%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

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.

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