Tidal Investments LLC Boosts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Tidal Investments LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.3% during the 4th quarter, Holdings Channel reports. The firm owned 10,010 shares of the transportation company’s stock after acquiring an additional 932 shares during the period. Tidal Investments LLC’s holdings in Old Dominion Freight Line were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the fourth quarter worth $35,000. Itau Unibanco Holding S.A. lifted its position in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $41,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $51,000. Finally, CoreCap Advisors LLC lifted its position in shares of Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ODFL shares. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Bank of America boosted their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $182.26.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $161.56 on Friday. The firm has a market capitalization of $34.14 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.89 and a beta of 1.31. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $159.76 and its two-hundred day simple moving average is $182.43. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 EPS. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio is currently 21.01%.

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.