Cibc World Markets Corp Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Cibc World Markets Corp boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,571 shares of the transportation company’s stock after buying an additional 3,886 shares during the period. Cibc World Markets Corp’s holdings in Old Dominion Freight Line were worth $6,098,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the period. Geode Capital Management LLC increased its holdings in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares in the last quarter. Wellington Management Group LLP raised its position in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after buying an additional 46,570 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ODFL. Morgan Stanley raised their target price 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 target price on the stock. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Barclays decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Trading Down 2.4 %

NASDAQ ODFL opened at $162.08 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $159.11 and a one year high of $233.26. The company has a 50-day simple moving average of $185.35 and a 200-day simple moving average of $194.95. The firm has a market capitalization of $34.45 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.