Norden Group LLC Has $250,000 Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Norden Group LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,416 shares of the transportation company’s stock after buying an additional 66 shares during the quarter. Norden Group LLC’s holdings in Old Dominion Freight Line were worth $250,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ODFL. Avanza Fonder AB bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $3,741,000. AustralianSuper Pty Ltd bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Toronto Dominion Bank grew its stake in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $600,000. Finally, Reliant Investment Management LLC raised its position in shares of Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after buying an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays reduced 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. 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 for the company in a report on Thursday, January 16th. Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group boosted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $200.67.

Old Dominion Freight Line Price Performance

ODFL stock opened at $174.99 on Wednesday. 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 company’s fifty day simple moving average is $187.27 and its 200 day simple moving average is $196.93. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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, 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.