Royal London Asset Management Ltd. Lowers Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Royal London Asset Management Ltd. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 885,632 shares of the transportation company’s stock after selling 119,982 shares during the period. Royal London Asset Management Ltd.’s holdings in Old Dominion Freight Line were worth $156,225,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ODFL. SevenBridge Financial Group LLC increased its holdings in shares of Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after buying an additional 50 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after acquiring an additional 55 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares in the last quarter. Finally, Evergreen Private Wealth LLC grew its holdings in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.2 %

Shares of NASDAQ:ODFL opened at $162.44 on Thursday. The company’s fifty day moving average is $185.00 and its two-hundred day moving average is $194.72. 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, Inc. has a 1-year low of $159.11 and a 1-year high of $233.26. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. Susquehanna restated a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Stephens restated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Barclays lowered their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. The Goldman Sachs Group boosted their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Bank of America reduced their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $202.65.

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.