Alliancebernstein L.P. Lowers Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Alliancebernstein L.P. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,638 shares of the transportation company’s stock after selling 7,783 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of Old Dominion Freight Line worth $37,686,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ODFL. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $494,916,000. Wellington Management Group LLP raised its holdings in Old Dominion Freight Line by 109.5% during 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 acquiring an additional 750,073 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $128,221,000. Raymond James Financial Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $114,449,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after purchasing an additional 573,586 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $152.06 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $147.06 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $179.81 and a 200-day moving average price of $192.51. The firm has a market capitalization of $32.32 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

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 (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ODFL. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Stephens restated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Bank of America decreased their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Morgan Stanley lifted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.70.

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.