T. Rowe Price Investment Management Inc. Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

T. Rowe Price Investment Management Inc. boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1,575.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,447,784 shares of the transportation company's stock after purchasing an additional 1,361,397 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.68% of Old Dominion Freight Line worth $255,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $41,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $51,000. Versant Capital Management Inc boosted its position in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $69,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the subject of a number of research analyst reports. Evercore ISI reduced their price target on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Truist Financial cut their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 price target for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus price target of $182.95.

Old Dominion Freight Line Stock Down 0.3 %

NASDAQ:ODFL traded down $0.44 during trading hours on Tuesday, hitting $148.56. 605,878 shares of the company traded hands, compared to its average volume of 1,673,216. The company has a market cap of $31.52 billion, a PE ratio of 27.07, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $164.25 and its 200-day simple moving average is $187.20.

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 earnings per share (EPS) for the quarter, topping 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 company's revenue for the quarter 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. Equities 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 business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. Old Dominion Freight Line's payout ratio is presently 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.