Fmr LLC Cuts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fmr LLC cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,514,286 shares of the transportation company’s stock after selling 233,855 shares during the quarter. Fmr LLC’s holdings in Old Dominion Freight Line were worth $443,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $51,000. Versant Capital Management Inc boosted its holdings in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $69,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $165.49 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $145.79 and a 1 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. The stock has a market capitalization of $35.17 billion, a PE ratio of 30.20, a P/E/G ratio of 2.89 and a beta of 1.25. The company’s 50 day simple moving average is $176.54 and its two-hundred day simple moving average is $191.09.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. 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%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ODFL shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 target price on the stock. Barclays reduced their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. Raymond James reduced their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Finally, The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $195.75.

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.