Middleton & Co. Inc. MA Buys 78 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Middleton & Co. Inc. MA boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,679 shares of the transportation company’s stock after purchasing an additional 78 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Old Dominion Freight Line were worth $4,706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ODFL. abrdn plc increased its holdings in Old Dominion Freight Line by 15.8% in the third quarter. abrdn plc now owns 61,078 shares of the transportation company’s stock valued at $12,104,000 after purchasing an additional 8,329 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in Old Dominion Freight Line by 16.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,706 shares of the transportation company’s stock valued at $1,133,000 after purchasing an additional 806 shares during the last quarter. Financial Advocates Investment Management increased its holdings in Old Dominion Freight Line by 5.8% in the third quarter. Financial Advocates Investment Management now owns 2,396 shares of the transportation company’s stock valued at $476,000 after purchasing an additional 132 shares during the last quarter. Stephens Inc. AR grew its stake in Old Dominion Freight Line by 7.9% in the third quarter. Stephens Inc. AR now owns 7,456 shares of the transportation company’s stock valued at $1,481,000 after acquiring an additional 548 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Old Dominion Freight Line by 21.8% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 297 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $176.50 on Friday. The stock has a 50 day moving average price of $187.56 and a 200 day moving average price of $197.24. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $37.68 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.63%. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ODFL. Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Barclays decreased their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Bank of America decreased 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $203.72.

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.