Smartleaf Asset Management LLC Acquires 441 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Smartleaf Asset Management LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 62.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,150 shares of the transportation company’s stock after buying an additional 441 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Old Dominion Freight Line were worth $204,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 21.8% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the transportation company’s stock worth $329,000 after buying an additional 297 shares during the period. Chicago Partners Investment Group LLC grew its position in Old Dominion Freight Line by 19.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,369 shares of the transportation company’s stock worth $258,000 after acquiring an additional 224 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Old Dominion Freight Line by 2.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 80,655 shares of the transportation company’s stock worth $16,021,000 after purchasing an additional 1,597 shares during the period. Van ECK Associates Corp lifted its position in Old Dominion Freight Line by 11.0% in the third quarter. Van ECK Associates Corp now owns 41,888 shares of the transportation company’s stock valued at $7,903,000 after purchasing an additional 4,155 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of Old Dominion Freight Line by 11.5% during the third quarter. National Pension Service now owns 271,366 shares of the transportation company’s stock valued at $53,904,000 after purchasing an additional 28,093 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of several analyst reports. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Citigroup decreased their price objective on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America dropped their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $200.00 in a report on Monday, February 24th. Finally, Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $200.67.

Old Dominion Freight Line Trading Up 0.9 %

Shares of NASDAQ ODFL opened at $176.52 on Thursday. The stock has a market cap of $37.52 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The firm has a 50-day moving average of $187.27 and a 200 day moving average of $196.93.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS 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. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. Old Dominion Freight Line’s dividend payout ratio (DPR) 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.