Erste Asset Management GmbH Decreases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Erste Asset Management GmbH trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,240 shares of the transportation company’s stock after selling 5,010 shares during the quarter. Erste Asset Management GmbH’s holdings in Old Dominion Freight Line were worth $3,059,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ODFL. Wellington Management Group LLP boosted its position in Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line during the fourth quarter worth $128,221,000. Raymond James Financial Inc. purchased a new stake in Old Dominion Freight Line during the fourth quarter worth $114,449,000. Franklin Resources Inc. lifted its position in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $49,983,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock opened at $162.50 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 1 year low of $159.35 and a 1 year high of $233.26. The firm has a market cap of $34.54 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a 50-day simple moving average of $186.05 and a 200-day simple moving average of $195.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ODFL shares. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Finally, Stephens reiterated 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 given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $202.65.

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.