Rhumbline Advisers Trims Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Rhumbline Advisers lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 392,362 shares of the transportation company’s stock after selling 8,836 shares during the period. Rhumbline Advisers’ holdings in Old Dominion Freight Line were worth $69,213,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. New Mexico Educational Retirement Board raised its position in shares of Old Dominion Freight Line by 2.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 8,950 shares of the transportation company’s stock valued at $1,579,000 after buying an additional 200 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the fourth quarter worth approximately $128,221,000. Vontobel Holding Ltd. increased its position in Old Dominion Freight Line by 27.5% during the fourth quarter. Vontobel Holding Ltd. now owns 12,478 shares of the transportation company’s stock worth $2,201,000 after purchasing an additional 2,688 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Old Dominion Freight Line by 2.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 76,309 shares of the transportation company’s stock worth $13,753,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Avestar Capital LLC increased its position in Old Dominion Freight Line by 12.0% during the fourth quarter. Avestar Capital LLC now owns 1,258 shares of the transportation company’s stock worth $222,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.0 %

Old Dominion Freight Line stock opened at $206.34 on Monday. The firm’s 50-day moving average is $189.35 and its 200-day moving average is $197.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a market cap of $44.05 billion, a P/E ratio of 37.65, a PEG ratio of 5.30 and a beta of 1.05.

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 for the quarter, topping analysts’ consensus estimates 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, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ODFL shares. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Citigroup increased their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Jefferies Financial Group increased their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $203.33.

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.