Northern Trust Corp lifted its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 3.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 584,349 shares of the transportation company’s stock after purchasing an additional 21,122 shares during the quarter. Northern Trust Corp’s holdings in Old Dominion Freight Line were worth $72,161,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $29,000. Riverview Trust Co bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $70,000. Stratos Wealth Partners LTD. bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $120,000. One Wealth Advisors LLC bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $157,000. Finally, Csenge Advisory Group bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $144,000. Institutional investors own 71.29% of the company’s stock.
A number of equities analysts have recently issued reports on ODFL shares. Zacks Investment Research cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Credit Suisse Group reaffirmed a “buy” rating and issued a $147.00 price target on shares of Old Dominion Freight Line in a research report on Tuesday, January 15th. BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Cowen raised their price target on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a research report on Thursday, February 7th. Finally, KeyCorp increased their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 8th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $147.82.
In other news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the sale, the senior vice president now owns 6,027 shares in the company, valued at approximately $915,139.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.00% of the company’s stock.
Shares of ODFL stock opened at $147.70 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 12-month low of $115.00 and a 12-month high of $170.22. The company has a market cap of $12.06 billion, a PE ratio of 20.01, a P/E/G ratio of 2.14 and a beta of 1.45.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, February 7th. The transportation company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.21. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $2.39 EPS. Old Dominion Freight Line’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that Old Dominion Freight Line will post 7.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $0.68 annualized dividend and a dividend yield of 0.46%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.13. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.21%.
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Old Dominion Freight Line Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
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