Paradigm Asset Management Co. LLC Acquires Shares of 4,400 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Paradigm Asset Management Co. LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,400 shares of the transportation company’s stock, valued at approximately $776,000.

Several other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $45,000. Brown Brothers Harriman & Co. grew its position in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the period. Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Old Dominion Freight Line in the 3rd quarter worth about $64,000. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ODFL shares. Wells Fargo & Company dropped 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 note on Tuesday, January 7th. Barclays dropped their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group raised their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Stephens reiterated an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Trading Down 8.5 %

Shares of ODFL stock opened at $180.40 on Friday. 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 12-month low of $165.49 and a 12-month high of $233.26. The stock has a market capitalization of $38.52 billion, a P/E ratio of 32.92, a P/E/G ratio of 3.01 and a beta of 1.05. The firm’s 50 day moving average is $188.96 and its 200 day moving average is $197.81.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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%. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current 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 given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

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.