Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,682 shares of the transportation company’s stock after buying an additional 2,428 shares during the period. The Manufacturers Life Insurance Company’s holdings in Old Dominion Freight Line were worth $26,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $35,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line in the fourth quarter valued at $51,000. Versant Capital Management Inc boosted its holdings in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $158.01 on Friday. The company has a market capitalization of $33.52 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. 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 stock has a fifty day moving average of $161.69 and a 200-day moving average of $186.05. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Old Dominion Freight Line’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. As a group, equities 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. Old Dominion Freight Line’s dividend payout ratio is currently 21.01%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ODFL shares. Stifel Nicolaus reduced their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group reduced their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. UBS Group lowered their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Citigroup upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Evercore ISI lowered their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.37.

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.