Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Vest Financial LLC

Vest Financial LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.4% during the fourth quarter, HoldingsChannel reports. The fund owned 177,848 shares of the transportation company’s stock after acquiring an additional 38,253 shares during the quarter. Vest Financial LLC’s holdings in Old Dominion Freight Line were worth $31,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Conning Inc. increased its holdings in shares of Old Dominion Freight Line by 19.6% in the 4th quarter. Conning Inc. now owns 1,357 shares of the transportation company’s stock valued at $239,000 after purchasing an additional 222 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $327,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Old Dominion Freight Line by 10.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,370 shares of the transportation company’s stock valued at $3,946,000 after purchasing an additional 2,053 shares in the last quarter. YANKCOM Partnership acquired a new position in Old Dominion Freight Line during the fourth quarter worth $112,000. Finally, Choreo LLC grew its holdings in Old Dominion Freight Line by 25.6% in the fourth quarter. Choreo LLC now owns 7,188 shares of the transportation company’s stock valued at $1,273,000 after purchasing an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

ODFL has been the subject of several research reports. Bank of America cut their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Jefferies Financial Group lifted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets reduced their price target 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. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $197.20 on Friday. The stock’s fifty day moving average is $190.09 and its two-hundred day moving average is $197.73. The stock has a market capitalization of $42.10 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 5.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

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.