JPMorgan Chase & Co. Sells 211,468 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

JPMorgan Chase & Co. decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,674,954 shares of the transportation company’s stock after selling 211,468 shares during the quarter. JPMorgan Chase & Co. owned about 0.78% of Old Dominion Freight Line worth $295,462,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at $51,000. Versant Capital Management Inc raised its stake in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 3.2 %

Shares of NASDAQ ODFL opened at $164.85 on Monday. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.89 and a beta of 1.10. The stock has a 50 day moving average price of $182.63 and a 200 day moving average price of $193.59. 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 (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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%. Sell-side 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. 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 currently 18.98%.

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Citigroup reduced their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Stephens restated an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report 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 report on Friday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $201.40.

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.