Arete Wealth Advisors LLC Takes $304,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Arete Wealth Advisors LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,716 shares of the transportation company’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ODFL. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth 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 increased its stake in 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 valued at $62,000 after acquiring an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $69,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 2.4 %

ODFL opened at $152.06 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52 week low of $144.76 and a 52 week high of $233.26. The stock has a market cap of $32.32 billion, a PE ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25. The business has a 50 day moving average of $179.81 and a 200-day moving average of $192.48.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Analysts Set New Price Targets

Several research analysts have commented on ODFL shares. Citigroup decreased their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Susquehanna lowered their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Evercore ISI upped their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price objective 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. Finally, Bank of America dropped their target price on 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. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $199.70.

Old Dominion Freight Line Company Profile

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.