Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Increased by MML Investors Services LLC

MML Investors Services LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,685 shares of the transportation company’s stock after purchasing an additional 344 shares during the quarter. MML Investors Services LLC’s holdings in Old Dominion Freight Line were worth $1,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $494,916,000. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $114,449,000. Thrivent Financial for Lutherans increased its stake in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after purchasing an additional 573,586 shares during the period. Finally, Menora Mivtachim Holdings LTD. acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $79,380,000. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ODFL. StockNews.com lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Evercore ISI lowered their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a report on Thursday, April 24th. Barclays cut their price objective on shares of 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, April 24th. UBS Group decreased their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group dropped their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $183.37.

Old Dominion Freight Line Price Performance

ODFL stock opened at $149.65 on Wednesday. The firm has a 50-day moving average of $163.30 and a two-hundred day moving average of $186.94. The firm has a market capitalization of $31.75 billion, a PE ratio of 27.31, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. 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 during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business posted $1.34 EPS. The company’s revenue was down 5.8% on a year-over-year basis. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.75%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 21.01%.

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.