Susquehanna Fundamental Investments LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 133,227 shares of the transportation company’s stock, valued at approximately $23,501,000.

Other hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $51,000. Versant Capital Management Inc raised its holdings in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $69,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ODFL shares. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and dropped their target price for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 target price on the stock. Stephens restated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday. Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, Susquehanna lowered their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $182.95.

Old Dominion Freight Line Trading Down 7.7 %

ODFL opened at $146.74 on Friday. The business has a fifty day moving average price of $165.37 and a 200 day moving average price of $187.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The stock has a market capitalization of $31.19 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Sell-side analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 20.44%.

Old Dominion Freight Line Company 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.