Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 21.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 269,176 shares of the transportation company’s stock after selling 74,112 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Old Dominion Freight Line worth $47,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $2,103,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $11,419,000. Quantum Capital Management LLC NJ increased its holdings in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. Quantum Capital Management LLC NJ now owns 534,004 shares of the transportation company’s stock worth $94,198,000 after buying an additional 9,759 shares during the last quarter. DF Dent & Co. Inc. increased its holdings in shares of Old Dominion Freight Line by 3.9% during the 4th quarter. DF Dent & Co. Inc. now owns 851,614 shares of the transportation company’s stock worth $150,225,000 after buying an additional 32,218 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $8,103,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ODFL shares. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Susquehanna cut their price objective on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Evercore ISI boosted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their target price for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Finally, Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.70.

Old Dominion Freight Line Stock Down 2.4 %

ODFL stock opened at $152.06 on Monday. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.76 and a fifty-two week high of $233.26. The company’s 50 day moving average price is $179.81 and its 200 day moving average price is $192.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $32.32 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared 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 represents a $1.12 dividend on an annualized basis and a yield of 0.74%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. 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.