Kovack Advisors Inc. Lowers Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kovack Advisors Inc. lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,526 shares of the transportation company’s stock after selling 88 shares during the period. Kovack Advisors Inc.’s holdings in Old Dominion Freight Line were worth $446,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. New York Life Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 11.2% in the 4th quarter. New York Life Investment Management LLC now owns 27,952 shares of the transportation company’s stock worth $4,931,000 after purchasing an additional 2,809 shares during the period. Harfst & Associates Inc. lifted its position in shares of Old Dominion Freight Line by 14.5% in the 4th quarter. Harfst & Associates Inc. now owns 11,160 shares of the transportation company’s stock worth $1,969,000 after purchasing an additional 1,417 shares during the period. SRN Advisors LLC lifted its position in shares of Old Dominion Freight Line by 2.0% in the 4th quarter. SRN Advisors LLC now owns 5,961 shares of the transportation company’s stock worth $1,052,000 after purchasing an additional 117 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $35,000. Finally, Checchi Capital Advisers LLC raised its stake in shares of Old Dominion Freight Line by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,323 shares of the transportation company’s stock worth $410,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ODFL shares. Barclays reduced their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Susquehanna reiterated a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $203.72.

Old Dominion Freight Line Stock Up 1.0 %

NASDAQ:ODFL opened at $176.50 on Friday. The firm has a market capitalization of $37.68 billion, a P/E ratio of 32.21, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company’s fifty day moving average price is $187.56 and its 200-day moving average price is $197.24. 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 released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.