Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Garrison Bradford & Associates Inc.

Garrison Bradford & Associates Inc. boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,357 shares of the transportation company’s stock after purchasing an additional 134 shares during the quarter. Old Dominion Freight Line comprises approximately 6.2% of Garrison Bradford & Associates Inc.’s investment portfolio, making the stock its 5th largest position. Garrison Bradford & Associates Inc.’s holdings in Old Dominion Freight Line were worth $5,884,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $35,000. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at $45,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $41,000. Brown Brothers Harriman & Co. raised its stake in Old Dominion Freight Line by 398.1% in the 3rd 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 last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth $64,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $179.55 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. 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 business has a 50 day simple moving average of $187.08 and a 200-day simple moving average of $196.49. The stock has a market capitalization of $38.16 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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%. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, March 5th. 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 18.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ODFL. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday. They issued a “buy” rating and a $236.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Citigroup dropped their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Barclays lowered their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $202.53.

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.