Bryce Point Capital LLC Invests $1.36 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bryce Point Capital LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,723 shares of the transportation company’s stock, valued at approximately $1,362,000.

Several other hedge funds have also bought and sold shares of ODFL. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter valued at about $41,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $51,000. Versant Capital Management Inc grew 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. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $69,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

Shares of ODFL stock opened at $167.09 on Wednesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The firm has a market capitalization of $35.51 billion, a PE ratio of 30.49, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s 50-day simple moving average is $181.68 and its 200-day simple moving average is $193.23.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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 analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given 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 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analyst Ratings Changes

ODFL has been the topic of several research analyst reports. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their target price for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a report on Monday. Evercore ISI boosted their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. Barclays cut their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target 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.