Whittier Trust Co. Acquires 3,334 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Whittier Trust Co. boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 94,848 shares of the transportation company’s stock after purchasing an additional 3,334 shares during the period. Whittier Trust Co.’s holdings in Old Dominion Freight Line were worth $16,731,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Oppenheimer & Co. Inc. purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at about $271,000. Empowered Funds LLC increased its position in shares of Old Dominion Freight Line by 6.0% during the third quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company’s stock valued at $704,000 after buying an additional 199 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Old Dominion Freight Line by 2.9% during the third quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company’s stock valued at $5,201,000 after buying an additional 747 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Old Dominion Freight Line by 8.5% during the third quarter. Meeder Advisory Services Inc. now owns 3,835 shares of the transportation company’s stock valued at $762,000 after buying an additional 301 shares during the period. Finally, Caprock Group LLC increased its position in shares of Old Dominion Freight Line by 9.7% during the third quarter. Caprock Group LLC now owns 8,956 shares of the transportation company’s stock valued at $1,779,000 after buying an additional 794 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

ODFL opened at $162.44 on Thursday. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.89 and a beta of 1.10. The company has a fifty day moving average of $185.00 and a 200 day moving average of $194.72. Old Dominion Freight Line, Inc. has a fifty-two week low of $159.11 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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, sell-side analysts forecast 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 given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.69%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ODFL shares. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price objective on the stock. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price on the stock. Finally, StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $202.65.

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.