abrdn plc Has $9.91 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

abrdn plc cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,733 shares of the transportation company’s stock after selling 5,345 shares during the quarter. abrdn plc’s holdings in Old Dominion Freight Line were worth $9,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $3,741,000. Toronto Dominion Bank boosted its position in Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $600,000. Sequoia Financial Advisors LLC increased its position in Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after purchasing an additional 1,017 shares during the period. Finally, Reliant Investment Management LLC lifted its position in Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after purchasing an additional 2,060 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Up 0.7 %

Shares of ODFL opened at $197.20 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $42.10 billion, a P/E ratio of 34.48, a P/E/G ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The firm has a 50 day simple moving average of $190.09 and a two-hundred day simple moving average of $197.70.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is 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 0.57%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analyst Ratings Changes

ODFL has been the subject of several analyst reports. Citigroup lifted their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Morgan Stanley lifted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday. Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $203.33.

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.