CIBC Asset Management Inc Buys 2,108 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

CIBC Asset Management Inc boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,112 shares of the transportation company’s stock after purchasing an additional 2,108 shares during the period. CIBC Asset Management Inc’s holdings in Old Dominion Freight Line were worth $12,191,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ODFL. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $45,000. Brown Brothers Harriman & Co. grew its position in Old Dominion Freight Line by 398.1% in 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 during the period. Versant Capital Management Inc grew its position in 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 worth $62,000 after purchasing an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $64,000. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of 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. Stephens reissued an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Robert W. Baird cut their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets cut their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup boosted their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Trading Up 1.4 %

Shares of Old Dominion Freight Line stock opened at $209.29 on Wednesday. The company has a market capitalization of $44.68 billion, a P/E ratio of 38.19, a P/E/G ratio of 5.30 and a beta of 1.05. 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 company has a fifty day moving average of $189.48 and a 200 day moving average of $197.86. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.54%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

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.