Mirabella Financial Services LLP Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mirabella Financial Services LLP purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, Holdings Channel.com reports. The fund purchased 35,219 shares of the transportation company’s stock, valued at approximately $6,208,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MetLife Investment Management LLC boosted its position in Old Dominion Freight Line by 0.4% in the fourth quarter. MetLife Investment Management LLC now owns 58,348 shares of the transportation company’s stock worth $10,293,000 after purchasing an additional 232 shares during the last quarter. Norinchukin Bank The lifted its stake in shares of Old Dominion Freight Line by 9.7% in the 4th quarter. Norinchukin Bank The now owns 10,733 shares of the transportation company’s stock worth $1,893,000 after purchasing an additional 953 shares during the period. Ossiam boosted its holdings in shares of Old Dominion Freight Line by 1,059.7% in the fourth quarter. Ossiam now owns 57,962 shares of the transportation company’s stock worth $10,224,000 after buying an additional 52,964 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Old Dominion Freight Line by 29.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,807 shares of the transportation company’s stock valued at $1,024,000 after buying an additional 1,314 shares during the period. Finally, Capital World Investors increased its holdings in Old Dominion Freight Line by 1.1% during the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after buying an additional 27,367 shares during the last quarter. 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 $153.75 on Friday. 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, Inc. has a 1-year low of $145.79 and a 1-year high of $233.26. The business has a 50 day simple moving average of $170.78 and a two-hundred day simple moving average of $188.98. The stock 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 released its quarterly earnings results 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 net margin of 20.40% and a return on equity of 28.02%. On average, research 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 business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.73%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 20.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ODFL shares. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Evercore ISI boosted their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Bank of America reduced their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Jefferies Financial Group reduced their target price on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $195.15.

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.