Bessemer Group Inc. Raises Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bessemer Group Inc. raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 435,439 shares of the transportation company’s stock after buying an additional 37,943 shares during the period. Bessemer Group Inc. owned about 0.20% of Old Dominion Freight Line worth $76,812,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $51,000. Versant Capital Management Inc lifted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $69,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $165.49 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $35.17 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.89 and a beta of 1.25. The business has a fifty day simple moving average of $176.54 and a 200-day simple moving average of $191.09. Old Dominion Freight Line, Inc. has a 52 week low of $145.79 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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%. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analyst Ratings Changes

Several brokerages have recently commented on ODFL. Truist Financial began coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Raymond James reduced their target price on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $195.75.

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.