Apollon Wealth Management LLC Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Apollon Wealth Management LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,383 shares of the transportation company’s stock after purchasing an additional 796 shares during the quarter. Apollon Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,126,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avanza Fonder AB purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $3,741,000. Toronto Dominion Bank boosted its position in Old Dominion Freight Line by 77.7% in 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 last quarter. Board of the Pension Protection Fund bought a new position in Old Dominion Freight Line in the 4th quarter valued at $600,000. Sequoia Financial Advisors LLC grew its stake in 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 period. Finally, Reliant Investment Management LLC increased its position 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 purchasing an additional 2,060 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $201.78 on Tuesday. 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization 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. The firm’s 50 day simple moving average is $189.63 and its 200 day simple moving average is $197.72.

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 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%. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. 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%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research reports. Susquehanna restated a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. BMO Capital Markets dropped their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $203.33.

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.