May Barnhard Investments LLC Makes New $514,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

May Barnhard Investments LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,916 shares of the transportation company’s stock, valued at approximately $514,000.

A number of other institutional investors also recently bought and sold shares of ODFL. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $35,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth about $45,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $41,000. Brown Brothers Harriman & Co. increased its position in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of 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 in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $162.98 on Friday. The business’s 50 day simple moving average is $186.67 and its 200-day simple moving average is $195.81. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 12 month low of $158.64 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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%. As a group, equities analysts forecast 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 company 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 is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. Old Dominion Freight Line’s payout ratio is 18.98%.

Analyst Ratings Changes

ODFL has been the topic of several recent research reports. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group boosted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Evercore ISI boosted their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $202.65.

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.