Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,540 shares of the transportation company’s stock after acquiring an additional 14,883 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.25% of Old Dominion Freight Line worth $95,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Geode Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after buying an additional 96,410 shares during the last quarter. Norges Bank acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $494,916,000. Capital World Investors grew its stake in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after purchasing an additional 27,367 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock valued at $272,969,000 after purchasing an additional 185,500 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after purchasing an additional 46,570 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research reports. Bank of America cut their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Finally, Susquehanna decreased their price objective on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $195.15.

Old Dominion Freight Line Trading Up 4.0 %

Shares of Old Dominion Freight Line stock opened at $153.75 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $145.79 and a twelve month high of $233.26. The firm’s 50-day moving average price is $170.78 and its 200 day moving average price is $188.98. 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 $32.68 billion, a PE ratio of 28.06, a P/E/G ratio of 2.89 and a beta of 1.25.

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

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.73%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is 20.44%.

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.