Sequoia Financial Advisors LLC Boosts Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sequoia Financial Advisors LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,530 shares of the transportation company’s stock after buying an additional 551 shares during the period. Sequoia Financial Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,152,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $41,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line in the third quarter valued at approximately $45,000. Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Old Dominion Freight Line by 45.5% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ODFL shares. Evercore ISI lifted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Citigroup cut their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of 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. Bank of America lowered their price objective on 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, Morgan Stanley increased their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $162.50 on Friday. The company’s 50-day moving average is $186.05 and its two-hundred day moving average is $195.34. Old Dominion Freight Line, Inc. has a 1-year low of $159.35 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 firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data 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 return on equity of 28.02% and a net margin of 20.40%. Analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Old Dominion Freight Line Company Profile

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.