Harfst & Associates Inc. Purchases 1,417 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Harfst & Associates Inc. increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,160 shares of the transportation company’s stock after acquiring an additional 1,417 shares during the period. Harfst & Associates Inc.’s holdings in Old Dominion Freight Line were worth $1,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line during the 4th quarter worth $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line during the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. grew its position in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in 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 worth $62,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ODFL. Susquehanna restated a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Evercore ISI lifted their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Barclays cut their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley lifted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $203.72.

Old Dominion Freight Line Stock Down 2.3 %

Shares of NASDAQ:ODFL opened at $175.69 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 2.89 and a beta of 1.05. The business’s 50-day moving average is $187.92 and its 200-day moving average is $197.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. 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 announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

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.