Arete Wealth Advisors LLC Acquires Shares of 1,716 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Arete Wealth Advisors LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, HoldingsChannel reports. The fund bought 1,716 shares of the transportation company’s stock, valued at approximately $304,000.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $51,000. Versant Capital Management Inc boosted its position 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 buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.4 %

Shares of Old Dominion Freight Line 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 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 market capitalization of $32.32 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a fifty day moving average of $179.81 and a 200 day moving average of $192.48.

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

Old Dominion Freight Line Increases Dividend

The business also recently disclosed 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 is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ODFL shares. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Truist Financial started coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price for the company. The Goldman Sachs Group increased their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Barclays cut their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their target price for the company from $193.00 to $200.00 in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.70.

Old Dominion Freight Line 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.