Aster Capital Management DIFC Ltd Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Aster Capital Management DIFC Ltd acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 820 shares of the transportation company’s stock, valued at approximately $145,000.

Other institutional investors have also made changes to their positions in the company. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $128,221,000. Toronto Dominion Bank raised its position in Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $630,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $600,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $151.41 on Tuesday. The stock has a market cap of $32.18 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 2.89 and a beta of 1.25. The stock’s 50-day moving average is $178.95 and its 200 day moving average is $192.11. Old Dominion Freight Line, Inc. has a 1-year low of $145.96 and a 1-year high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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 5.68 EPS 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 $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.74%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ODFL shares. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Susquehanna decreased their target price on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Citigroup dropped 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 report on Tuesday, March 4th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price target for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $200.45.

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.