Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by AXQ Capital LP

AXQ Capital LP lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 114.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,268 shares of the transportation company’s stock after purchasing an additional 2,281 shares during the quarter. AXQ Capital LP’s holdings in Old Dominion Freight Line were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter worth about $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line in the third quarter worth approximately $45,000. Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Finally, Versant Capital Management Inc increased its position in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ODFL. Bank of America lowered their price objective on shares of 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. Stephens reissued an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price objective 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. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the company from $193.00 to $200.00 in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $165.22 on Friday. The business has a 50 day moving average price of $184.41 and a two-hundred day moving average price of $194.30. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The firm has a market cap of $35.12 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

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 net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts expect 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 business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Wednesday, March 5th. 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 is 18.98%.

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.