Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 114.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,587 shares of the transportation company’s stock after buying an additional 12,050 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Old Dominion Freight Line were worth $3,984,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $3,741,000. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $128,221,000. Blueshift Asset Management LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $630,000. Board of the Pension Protection Fund purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $600,000. Finally, Reliant Investment Management LLC increased its position in shares of Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after purchasing an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

ODFL opened at $153.75 on Monday. The stock’s 50 day simple moving average is $170.78 and its 200 day simple moving average is $188.96. The stock has a market cap of $32.68 billion, a P/E ratio of 28.06, a P/E/G ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1-year low of $145.79 and a 1-year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly 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%. As a group, equities 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 20.44%.

Analysts Set New Price Targets

ODFL has been the topic of a number of research reports. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Stephens restated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. UBS Group reduced their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $200.00 to $188.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $195.15.

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.