Harvest Fund Management Co. Ltd Has $2.11 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Harvest Fund Management Co. Ltd increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,565 shares of the transportation company’s stock after acquiring an additional 2,690 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Old Dominion Freight Line were worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. Oppenheimer & Co. Inc. acquired a new position in Old Dominion Freight Line in the third quarter worth approximately $271,000. Empowered Funds LLC grew its holdings in Old Dominion Freight Line by 6.0% during the third quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company’s stock valued at $704,000 after purchasing an additional 199 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Old Dominion Freight Line by 2.9% during the third quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company’s stock valued at $5,201,000 after purchasing an additional 747 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Old Dominion Freight Line by 8.5% during the third quarter. Meeder Advisory Services Inc. now owns 3,835 shares of the transportation company’s stock valued at $762,000 after purchasing an additional 301 shares during the last quarter. Finally, Caprock Group LLC grew its holdings in Old Dominion Freight Line by 9.7% during the third quarter. Caprock Group LLC now owns 8,956 shares of the transportation company’s stock valued at $1,779,000 after purchasing an additional 794 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several analyst reports. Truist Financial initiated coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They set a “buy” rating and a $220.00 price target on the stock. Citigroup lowered their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays lowered their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Susquehanna reiterated a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price target for the company from $193.00 to $200.00 in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Up 0.2 %

Shares of ODFL stock opened at $162.44 on Thursday. The stock has a market cap of $34.53 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a fifty day moving average price of $185.00 and a 200 day moving average price of $194.72. Old Dominion Freight Line, Inc. has a one year low of $159.11 and a one 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.

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 (EPS) for the quarter, beating 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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Old Dominion Freight Line 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.