Fayez Sarofim & Co Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fayez Sarofim & Co increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 862,850 shares of the transportation company’s stock after purchasing an additional 48,820 shares during the quarter. Fayez Sarofim & Co’s holdings in Old Dominion Freight Line were worth $152,207,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ODFL. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line in the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line in the fourth quarter worth $51,000. Versant Capital Management Inc grew its stake in 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 valued at $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $69,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $153.75 on Monday. The firm has a market capitalization of $32.68 billion, a P/E ratio of 28.06, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $170.78 and its two-hundred day simple moving average is $188.96. Old Dominion Freight Line, Inc. has a twelve month low of $145.79 and a twelve month high of $233.26.

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, topping 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%. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.73%. Old Dominion Freight Line’s payout ratio is 20.44%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of research analyst reports. Citigroup raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and cut their price target for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. UBS Group reduced their price objective on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Raymond James lowered their target price on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $195.15.

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.