7,723 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,723 shares of the transportation company’s stock, valued at approximately $1,362,000.

Other large investors have also modified their holdings of the company. Public Sector Pension Investment Board boosted its position in Old Dominion Freight Line by 62.7% during the third quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company’s stock worth $1,443,000 after purchasing an additional 2,800 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Old Dominion Freight Line by 3.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after acquiring an additional 56 shares during the period. Captrust Financial Advisors increased its holdings in Old Dominion Freight Line by 1.7% in the 3rd quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock worth $1,490,000 after acquiring an additional 124 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Old Dominion Freight Line during the third quarter valued at $4,402,000. Finally, Benjamin Edwards Inc. grew its position in shares of Old Dominion Freight Line by 1,448.6% in the third quarter. Benjamin Edwards Inc. now owns 2,230 shares of the transportation company’s stock valued at $443,000 after purchasing an additional 2,086 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

Shares of NASDAQ:ODFL opened at $167.09 on Wednesday. The firm’s 50-day moving average is $181.68 and its two-hundred day moving average is $193.23. 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, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. The firm has a market capitalization of $35.51 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate 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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. This is a boost 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 payout ratio is presently 18.98%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ODFL shares. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Evercore ISI increased their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Jefferies Financial Group lifted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $200.20.

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.