Quantum Capital Management LLC NJ Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Quantum Capital Management LLC NJ grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 534,004 shares of the transportation company’s stock after purchasing an additional 9,759 shares during the period. Old Dominion Freight Line comprises approximately 10.1% of Quantum Capital Management LLC NJ’s holdings, making the stock its largest position. Quantum Capital Management LLC NJ’s holdings in Old Dominion Freight Line were worth $94,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after buying an additional 279,946 shares during the period. Geode Capital Management LLC boosted its position in Old Dominion Freight Line by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock valued at $870,311,000 after buying an additional 96,410 shares during the period. Norges Bank bought a new position in Old Dominion Freight Line in the 4th quarter worth about $494,916,000. Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after acquiring an additional 750,073 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after acquiring an additional 46,570 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ODFL. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Morgan Stanley lifted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Barclays cut their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $199.70.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $155.75 on Friday. The company has a market capitalization of $33.10 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company’s fifty day moving average price is $180.59 and its 200 day moving average price is $192.81. Old Dominion Freight Line, Inc. has a 1 year low of $150.37 and a 1 year 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 earnings per share 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, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared 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 of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

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.