Swiss National Bank Sells 35,700 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Swiss National Bank decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 544,800 shares of the transportation company’s stock after selling 35,700 shares during the period. Swiss National Bank owned about 0.26% of Old Dominion Freight Line worth $96,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ODFL. SevenBridge Financial Group LLC grew its stake in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after buying an additional 50 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after buying an additional 55 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares during the period. Finally, Evergreen Private Wealth LLC raised its holdings in Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ODFL shares. Morgan Stanley raised 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. JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 price target for the company. Barclays dropped 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 research report on Monday, March 10th. Finally, Susquehanna reissued a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $162.50 on Friday. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52 week low of $159.35 and a 52 week high of $233.26. 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 firm has a 50 day moving average of $186.05 and a 200 day moving average of $195.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results 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%. On average, sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. Old Dominion Freight Line’s payout ratio is 18.98%.

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.