Price T Rowe Associates Inc. MD lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,780,935 shares of the transportation company's stock after selling 2,489,509 shares during the period. Price T Rowe Associates Inc. MD owned 7.39% of Old Dominion Freight Line worth $2,783,758,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp bought a new position in Old Dominion Freight Line in the 4th quarter worth about $51,000. Versant Capital Management Inc raised its holdings in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after acquiring an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $69,000. Institutional investors own 77.82% of the company's stock.
Old Dominion Freight Line Stock Performance
ODFL stock traded down $0.38 during midday trading on Monday, reaching $146.36. 945,209 shares of the company's stock traded hands, compared to its average volume of 1,670,520. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock's 50-day moving average is $165.37 and its 200 day moving average is $187.56. 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 $31.05 billion, a P/E ratio of 26.70, a PEG ratio of 2.89 and a beta of 1.25.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The business 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%. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.77%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Stephens reaffirmed 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. Barclays reduced their price objective on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $182.95.
Read Our Latest Research Report on Old Dominion Freight Line
About Old Dominion Freight Line
(
Free Report)
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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