one8zero8 LLC Purchases New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

one8zero8 LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,442 shares of the transportation company’s stock, valued at approximately $431,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Avanza Fonder AB purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $3,741,000. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank lifted its stake in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $600,000. Finally, Reliant Investment Management LLC grew its stake in Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after buying an additional 2,060 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 0.3 %

Shares of ODFL stock opened at $162.50 on Monday. 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 12 month low of $159.35 and a 12 month high of $233.26. The stock has a market cap of $34.54 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a 50 day simple moving average of $186.05 and a two-hundred day simple moving average of $195.35.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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%. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.28 dividend. 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 0.69%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI increased their price objective 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. JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup cut their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. 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. Finally, Jefferies Financial Group increased their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $202.65.

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.