Gladstone Institutional Advisory LLC Has $1.94 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gladstone Institutional Advisory LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,983 shares of the transportation company’s stock after selling 2,570 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Old Dominion Freight Line were worth $1,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ODFL. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $45,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $41,000. Brown Brothers Harriman & Co. boosted its stake 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 buying an additional 215 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Old Dominion Freight Line in the third quarter valued at about $64,000. Finally, Northwest Investment Counselors LLC acquired a new position in Old Dominion Freight Line during the third quarter worth about $67,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $203.02 on Thursday. 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’s fifty day simple moving average is $189.21 and its two-hundred day simple moving average is $197.78. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The stock has a market capitalization of $43.34 billion, a P/E ratio of 37.05, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its 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 return on equity of 28.02% and a net margin of 20.40%. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, March 5th. 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 18.98%.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna reaffirmed a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. 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. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, Citigroup upped their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.