Aquatic Capital Management LLC Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Aquatic Capital Management LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 34,475 shares of the transportation company’s stock, valued at approximately $6,081,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ODFL. Oxford Asset Management LLP acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $757,000. Boothbay Fund Management LLC lifted its position in shares of Old Dominion Freight Line by 123.9% during the 4th quarter. Boothbay Fund Management LLC now owns 3,527 shares of the transportation company’s stock valued at $622,000 after acquiring an additional 1,952 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $23,501,000. Two Sigma Securities LLC grew its holdings in shares of Old Dominion Freight Line by 37.1% during the 4th quarter. Two Sigma Securities LLC now owns 2,741 shares of the transportation company’s stock worth $484,000 after purchasing an additional 741 shares in the last quarter. Finally, Nebula Research & Development LLC increased its position in shares of Old Dominion Freight Line by 53.7% in the fourth quarter. Nebula Research & Development LLC now owns 14,772 shares of the transportation company’s stock worth $2,606,000 after purchasing an additional 5,162 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $146.74 on Friday. The business has a 50-day moving average of $165.37 and a 200-day moving average of $187.61. 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 company has a market capitalization of $31.13 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders 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 dividend on an annualized basis and a yield of 0.76%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 21.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ODFL shares. Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the stock an “underweight” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Bank of America cut their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Barclays decreased their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $182.95.

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.