6,763 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Purchased by Entropy Technologies LP

Entropy Technologies LP purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,763 shares of the transportation company’s stock, valued at approximately $1,193,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avanza Fonder AB acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $3,741,000. Toronto Dominion Bank raised its stake in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after purchasing an additional 42,880 shares during the period. Board of the Pension Protection Fund purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $600,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Reliant Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 10.4% during 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 during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $201.78 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The business has a 50 day moving average price of $189.63 and a two-hundred day moving average price of $197.72. The firm has a market cap of $43.08 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. Robert W. Baird cut their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays cut their price objective 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. Evercore ISI boosted 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. Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley boosted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $203.33.

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.