Paloma Partners Management Co Acquires Shares of 40,000 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Paloma Partners Management Co acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, Holdings Channel.com reports. The fund acquired 40,000 shares of the transportation company’s stock, valued at approximately $7,056,000.

A number of other hedge funds also recently modified their holdings of the stock. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $35,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Versant Capital Management Inc boosted its stake 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 valued at $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Stephens reissued an “overweight” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 target price on the stock. Wells Fargo & Company set a $150.00 price target on shares of Old Dominion Freight Line and gave the company an “underweight” rating in a research report on Thursday. Finally, Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $182.95.

Old Dominion Freight Line Price Performance

ODFL stock opened at $149.00 on Tuesday. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 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. The stock has a market cap of $31.61 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a 50 day simple moving average of $164.25 and a 200 day simple moving average of $187.20.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company earned $1.34 EPS. Old Dominion Freight Line’s revenue was down 5.8% compared to the same quarter last year. Research 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. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.01%.

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.