Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,389,252 shares of the transportation company’s stock after selling 45,976 shares during the period. Wellington Management Group LLP’s holdings in Old Dominion Freight Line were worth $245,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $35,000. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $51,000. Versant Capital Management Inc increased its stake in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

Shares of NASDAQ:ODFL opened at $167.09 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year 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 stock has a market cap of $35.51 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.89 and a beta of 1.10. The firm has a fifty day moving average price of $181.68 and a 200 day moving average price of $193.23.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate 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 predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current 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 issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Ratings Changes

Several equities analysts have commented on ODFL shares. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Truist Financial initiated coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. Susquehanna cut their target price on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Evercore ISI lifted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.20.

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.