Smartleaf Asset Management LLC Buys 441 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Smartleaf Asset Management LLC increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 62.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,150 shares of the transportation company’s stock after buying an additional 441 shares during the period. Smartleaf Asset Management LLC’s holdings in Old Dominion Freight Line were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ODFL. State Street Corp increased its stake 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 worth $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Geode Capital Management LLC grew its holdings in Old Dominion Freight Line by 6.0% during 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 during the period. Wellington Management Group LLP increased 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 worth $285,094,000 after buying an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 buying an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after buying an additional 78,587 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.9 %

Shares of ODFL opened at $176.52 on Thursday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a market capitalization of $37.52 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s 50 day simple moving average is $187.27 and its 200 day simple moving average is $196.93.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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 net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts forecast 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.63%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is 18.98%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ODFL. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on shares of 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. Evercore ISI raised their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Stephens restated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $200.67.

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.