Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,526 shares of the transportation company’s stock after selling 803 shares during the quarter. M&T Bank Corp’s holdings in Old Dominion Freight Line were worth $4,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. raised its stake in Old Dominion Freight Line by 9.4% during the 4th quarter. Assetmark Inc. now owns 1,600 shares of the transportation company’s stock worth $282,000 after acquiring an additional 137 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 46,570 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Old Dominion Freight Line by 15.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,053 shares of the transportation company’s stock worth $1,244,000 after purchasing an additional 921 shares during the last quarter. Jones Financial Companies Lllp grew its position in Old Dominion Freight Line by 8.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,730 shares of the transportation company’s stock worth $482,000 after purchasing an additional 212 shares during the last quarter. Finally, Modera Wealth Management LLC grew its position in Old Dominion Freight Line by 7.7% during the 4th quarter. Modera Wealth Management LLC now owns 2,878 shares of the transportation company’s stock worth $508,000 after purchasing an additional 206 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 1.1 %

Shares of NASDAQ ODFL opened at $179.55 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $38.16 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The firm has a 50-day moving average price of $187.10 and a 200 day moving average price of $196.65. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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%. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of 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. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Bank of America lowered their price objective on shares of 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. Evercore ISI lifted their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Finally, StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $202.53.

Old Dominion Freight Line 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.