ING Groep NV Has $4.91 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

ING Groep NV cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 30.7% during the fourth quarter, Holdings Channel reports. The fund owned 27,840 shares of the transportation company’s stock after selling 12,342 shares during the quarter. ING Groep NV’s holdings in Old Dominion Freight Line were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at $45,000. Brown Brothers Harriman & Co. grew its holdings 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 buying an additional 215 shares in the last quarter. Versant Capital Management Inc grew its holdings in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at $64,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $180.40 on Friday. 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, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a market cap of $38.52 billion, a P/E ratio of 32.92, a P/E/G ratio of 3.01 and a beta of 1.05. The business has a fifty day simple moving average of $188.96 and a 200 day simple moving average of $197.81.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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 return on equity of 28.02% and a net margin of 20.40%. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Ratings Changes

ODFL has been the topic of a number of research reports. Evercore ISI upped their price objective 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. Morgan Stanley upped their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays decreased their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Company 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.