Blueshift Asset Management LLC Acquires New Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Blueshift Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,572 shares of the transportation company’s stock, valued at approximately $630,000.

A number of other institutional investors have also modified their holdings of the business. State Street Corp grew its position in shares of Old Dominion Freight Line by 3.8% during 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 buying an additional 279,946 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP grew its position in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Old Dominion Freight Line by 4.5% in the 3rd 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after purchasing an additional 46,570 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.8 %

ODFL stock opened at $161.13 on Friday. 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 firm has a market cap of $34.25 billion, a PE ratio of 29.40, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 12 month low of $159.11 and a 12 month high of $233.26. The firm has a 50 day simple moving average of $184.63 and a 200 day simple moving average of $194.49.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. Equities research 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Wednesday, March 5th. This is an increase 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 commented on ODFL. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 target price for the company. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their target price for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. Susquehanna restated a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $202.65.

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.