May Barnhard Investments LLC Buys New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

May Barnhard Investments LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,916 shares of the transportation company’s stock, valued at approximately $514,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $35,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $41,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. increased its holdings in shares of 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 worth $53,000 after buying an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of 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 buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $162.98 on Friday. 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 firm has a 50-day moving average of $186.67 and a two-hundred day moving average of $195.81. The stock has a market cap of $34.64 billion, a P/E ratio of 29.74, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1-year low of $158.64 and a 1-year high of $233.26.

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, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is a boost 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 dividend yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ODFL. Susquehanna restated a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Barclays dropped their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Truist Financial began coverage on Old Dominion Freight Line in a report on Thursday. They set a “buy” rating and a $220.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $202.65.

About Old Dominion Freight Line

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.