Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Holdings Lowered by Associated Banc Corp

Associated Banc Corp reduced its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% in the 4th quarter, Holdings Channel reports. The fund owned 10,954 shares of the transportation company’s stock after selling 570 shares during the period. Associated Banc Corp’s holdings in Old Dominion Freight Line were worth $1,932,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ODFL. Wellington Management Group LLP lifted its stake in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after acquiring an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line in the 4th quarter worth about $128,221,000. Raymond James Financial Inc. acquired a new position in Old Dominion Freight Line in the 4th quarter worth about $114,449,000. Franklin Resources Inc. increased its position in Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Old Dominion Freight Line in the 4th quarter worth about $49,983,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $162.50 on Friday. The stock has a 50 day moving average of $186.05 and a two-hundred day moving average of $195.34. 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 12 month low of $159.35 and a 12 month high of $233.26. The company has a market capitalization of $34.54 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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 expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODFL. The Goldman Sachs Group upped their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Evercore ISI upped their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 target price on the stock. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.65.

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.