Hood River Capital Management LLC increased its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 8.4% in the fourth quarter, HoldingsChannel reports. The firm owned 315,912 shares of the transportation company’s stock after buying an additional 24,478 shares during the quarter. Old Dominion Freight Line makes up approximately 2.4% of Hood River Capital Management LLC’s holdings, making the stock its 9th biggest holding. Hood River Capital Management LLC’s holdings in Old Dominion Freight Line were worth $41,558,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Fieldpoint Private Securities LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $100,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at about $132,000. Salem Investment Counselors Inc. grew its holdings in Old Dominion Freight Line by 3,281.3% in the 3rd quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,050 shares during the period. Pinebridge Investments L.P. purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $123,000. Finally, Telemus Capital LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at about $207,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at $130.14 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a fifty-two week low of $80.56 and a fifty-two week high of $150.31. The stock has a market capitalization of $10,720.41, a PE ratio of 29.92 and a beta of 1.22.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, March 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.40%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.10. Old Dominion Freight Line’s payout ratio is presently 7.12%.
Several research firms have commented on ODFL. Buckingham Research lifted their price target on Old Dominion Freight Line from $144.00 to $153.00 and gave the company a “neutral” rating in a report on Friday. Cowen restated a “market perform” rating and issued a $136.00 price target (up previously from $113.00) on shares of Old Dominion Freight Line in a report on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $134.00 price target on shares of Old Dominion Freight Line in a report on Thursday, January 18th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Saturday, January 6th. Finally, Seaport Global Securities restated a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $122.08.
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About Old Dominion Freight Line
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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