AGF Management Ltd. Invests $403,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

AGF Management Ltd. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,286 shares of the transportation company’s stock, valued at approximately $403,000.

A number of other hedge funds have also added to or reduced their stakes in ODFL. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at $45,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the 4th quarter valued at $41,000. Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Susquehanna reiterated a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Citigroup reduced their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $162.50 on Friday. The stock has a fifty day moving average of $186.05 and a 200-day moving average of $195.34. The stock has a market cap of $34.54 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $159.35 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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 anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Old Dominion Freight Line Company 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.