Dearborn Partners LLC Buys Shares of 2,108 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Dearborn Partners LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, Holdings Channel reports. The firm purchased 2,108 shares of the transportation company’s stock, valued at approximately $372,000.

A number of other institutional investors also recently made changes to their positions in ODFL. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. Brown Brothers Harriman & Co. grew its holdings in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $64,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 6.1 %

Shares of Old Dominion Freight Line stock opened at $167.03 on Wednesday. The company has a fifty day moving average price of $186.91 and a 200 day moving average price of $196.03. 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, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The stock has a market cap of $35.50 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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%. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.67%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Finally, Stephens restated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $201.74.

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.