Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Raised by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,571 shares of the transportation company’s stock after acquiring an additional 3,886 shares during the period. Cibc World Markets Corp’s holdings in Old Dominion Freight Line were worth $6,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ODFL. State Street Corp grew its stake in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC grew its position in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after buying an additional 275,236 shares in the last quarter. Wellington Management Group LLP increased its stake in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after buying an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock worth $220,542,000 after buying an additional 46,570 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Bank of America lowered their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley upped their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their target price for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Finally, The Goldman Sachs Group upped their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $162.08 on Wednesday. The stock’s fifty day simple moving average is $185.35 and its 200-day simple moving average is $194.95. The company has a market capitalization of $34.45 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 2.89 and a beta of 1.10. 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 1-year low of $159.11 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict 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 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 represents a $1.12 dividend on an annualized basis and a 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 payout ratio is 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.