Y Intercept Hong Kong Ltd Acquires Shares of 41,717 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Y Intercept Hong Kong Ltd purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 41,717 shares of the transportation company’s stock, valued at approximately $7,359,000. Old Dominion Freight Line accounts for about 0.5% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors also recently modified their holdings of ODFL. Wellington Management Group LLP grew its position 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 acquiring an additional 750,073 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $128,221,000. Franklin Resources Inc. grew its holdings in shares of Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after purchasing an additional 437,700 shares during the last quarter. State Street Corp grew its holdings in shares of Old Dominion Freight Line by 3.8% during the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC increased its position in Old Dominion Freight Line by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ODFL. Susquehanna restated a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Evercore ISI raised their price objective on 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. Barclays reduced their price objective 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. Bank of America dropped their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $180.40 on Monday. The firm’s fifty day simple moving average is $188.96 and its two-hundred day simple moving average is $197.84. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $38.52 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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 return on equity of 28.02% and a net margin of 20.40%. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 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.