Huntington National Bank Grows Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Huntington National Bank increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,008 shares of the transportation company’s stock after purchasing an additional 97 shares during the period. Huntington National Bank’s holdings in Old Dominion Freight Line were worth $178,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ODFL. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $494,916,000. Wellington Management Group LLP boosted its holdings in Old Dominion Freight Line by 109.5% during the 3rd 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 acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $114,449,000. Finally, Thrivent Financial for Lutherans lifted 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. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.4 %

Shares of NASDAQ:ODFL opened at $152.06 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 stock has a market cap of $32.32 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1-year low of $147.06 and a 1-year high of $233.26. The firm has a fifty day moving average price of $179.81 and a 200 day moving average price of $192.51.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Sell-side analysts predict 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. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Finally, Citigroup cut their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $199.70.

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.