Tower Research Capital LLC TRC Raises Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Tower Research Capital LLC TRC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 114.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,587 shares of the transportation company’s stock after acquiring an additional 12,050 shares during the period. Tower Research Capital LLC TRC’s holdings in Old Dominion Freight Line were worth $3,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line in the 4th quarter worth about $51,000. Versant Capital Management Inc boosted its holdings 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 buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Evercore ISI lifted their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Citigroup raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Truist Financial began coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective for the company. Finally, Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $195.15.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $153.75 on Monday. The company has a market cap of $32.68 billion, a P/E ratio of 28.06, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a fifty-two week low of $145.79 and a fifty-two week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average price is $170.78 and its 200 day moving average price is $188.96.

Old Dominion Freight Line (NASDAQ:ODFL) last posted 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, research analysts forecast 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. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 20.44%.

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.