Oxford Asset Management LLP Makes New $757,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Oxford Asset Management LLP bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,292 shares of the transportation company's stock, valued at approximately $757,000.

Several other hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $1,718,000. Synovus Financial Corp grew its holdings in shares of Old Dominion Freight Line by 2.4% during the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company's stock valued at $866,000 after buying an additional 101 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock valued at $207,068,000 after buying an additional 437,700 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Old Dominion Freight Line during the third quarter valued at $16,691,000. Finally, Retirement Systems of Alabama grew its holdings in shares of Old Dominion Freight Line by 5.2% during the third quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company's stock valued at $8,213,000 after buying an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODFL. Susquehanna cut their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an "outperform" rating 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 set a "buy" rating and a $236.00 target price on the stock. Bank of America lowered their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group lowered their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. 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 company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target of $183.37.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL traded down $3.35 during trading hours on Thursday, reaching $149.93. The stock had a trading volume of 853,698 shares, compared to its average volume of 1,677,514. The firm has a market cap of $31.81 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.89 and a beta of 1.25. 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 fifty-two week low of $144.90 and a fifty-two week high of $233.26. The firm has a 50-day moving average of $162.75 and a 200-day moving average of $186.71.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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. 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 return on equity of 28.02% and a net margin of 20.40%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities research 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. 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 0.75%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is currently 21.01%.

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.