Y Intercept Hong Kong Ltd Invests $7.36 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Y Intercept Hong Kong Ltd purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 41,717 shares of the transportation company’s stock, valued at approximately $7,359,000. Old Dominion Freight Line comprises 0.5% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $41,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Brown Brothers Harriman & Co. raised its stake in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares in the last quarter. Versant Capital Management Inc boosted its holdings 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 valued at $62,000 after buying an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Old Dominion Freight Line in the third quarter valued at $64,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $180.40 on Monday. 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 stock has a market capitalization of $38.52 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a 50-day simple moving average of $188.96 and a two-hundred day simple moving average of $197.84.

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 for the quarter, beating 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%. 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.62%. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Analyst Ratings Changes

A number of analysts have commented on ODFL shares. Barclays cut their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Morgan Stanley boosted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research 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. Finally, Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $203.33.

About Old Dominion Freight Line

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.