Franklin Resources Inc. Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Franklin Resources Inc. lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,008,786 shares of the transportation company’s stock after selling 14,026 shares during the quarter. Franklin Resources Inc. owned approximately 0.47% of Old Dominion Freight Line worth $177,950,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Versant Capital Management Inc boosted its position in 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 buying an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter worth $69,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

Shares of NASDAQ:ODFL opened at $167.09 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $35.51 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.89 and a beta of 1.10. The firm has a fifty day moving average price of $181.68 and a 200 day moving average price of $193.23.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ODFL shares. Jefferies Financial Group increased their price objective 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. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America cut their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, fifteen 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, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $200.20.

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.