Stevens Capital Management LP Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Stevens Capital Management LP lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 58.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,954 shares of the transportation company’s stock after buying an additional 724 shares during the quarter. Stevens Capital Management LP’s holdings in Old Dominion Freight Line were worth $345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in 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 valued at $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC raised its stake in Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares in the last quarter. Wellington Management Group LLP raised its stake in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Old Dominion Freight Line by 4.5% in the third 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 valued at $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Old Dominion Freight Line by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after purchasing an additional 46,570 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ODFL. Morgan Stanley raised their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Citigroup reduced their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $202.65.

Old Dominion Freight Line Price Performance

ODFL opened at $165.22 on Monday. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. The stock has a 50-day moving average price of $184.41 and a 200-day moving average price of $194.29. The firm has a market cap of $35.12 billion, a PE ratio of 30.15, a P/E/G ratio of 2.89 and a beta of 1.10. 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 EPS for the quarter, topping the consensus estimate 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%. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.68%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 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.