Empowered Funds LLC Buys 804 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Empowered Funds LLC raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,347 shares of the transportation company’s stock after purchasing an additional 804 shares during the period. Empowered Funds LLC’s holdings in Old Dominion Freight Line were worth $767,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ODFL. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Old Dominion Freight Line by 8.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,317 shares of the transportation company’s stock worth $4,036,000 after acquiring an additional 1,627 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Old Dominion Freight Line by 72.2% during the third quarter. Blue Trust Inc. now owns 1,746 shares of the transportation company’s stock valued at $347,000 after purchasing an additional 732 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Old Dominion Freight Line by 29.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 512,559 shares of the transportation company’s stock worth $101,815,000 after purchasing an additional 115,701 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $67,000. Finally, Whittier Trust Co. raised its holdings in Old Dominion Freight Line by 3.4% during the 3rd quarter. Whittier Trust Co. now owns 91,514 shares of the transportation company’s stock valued at $18,178,000 after buying an additional 3,037 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $206.34 on Tuesday. The firm has a 50 day moving average of $189.39 and a two-hundred day moving average of $197.76. The firm has a market capitalization of $44.05 billion, a PE ratio of 37.65, a P/E/G ratio of 5.30 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping 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%. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.69 EPS 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. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analyst Ratings Changes

Several brokerages have recently commented on ODFL. Barclays lowered their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Jefferies Financial Group upped their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Evercore ISI raised their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. Susquehanna restated a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Citigroup upped their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line 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.