Paloma Partners Management Co Invests $7.06 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Paloma Partners Management Co acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 40,000 shares of the transportation company's stock, valued at approximately $7,056,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Hantz Financial Services Inc. raised its stake in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after buying an additional 55 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after acquiring an additional 55 shares during the period. Evergreen Private Wealth LLC increased its position in Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after acquiring an additional 59 shares during the last quarter. Lido Advisors LLC lifted its holdings in Old Dominion Freight Line by 3.2% in the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after acquiring an additional 59 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of research reports. 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. Bank of America reduced their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their price target for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. 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. Finally, Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the company an "outperform" 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $183.37.

Old Dominion Freight Line Price Performance

ODFL stock traded down $2.72 during trading on Thursday, hitting $150.56. 2,153,661 shares of the company's stock traded hands, compared to its average volume of 1,680,013. The business has a fifty day simple moving average of $162.13 and a 200 day simple moving average of $186.35. 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 debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. As a group, research 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, March 5th. 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 (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.