ING Groep NV Purchases New Holdings in Old Dominion Freight Line (ODFL)

ING Groep NV acquired a new position in shares of Old Dominion Freight Line (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,553 shares of the transportation company’s stock, valued at approximately $730,000.

Several other large investors also recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $1,133,000. Emerald Advisers Inc. PA purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $665,000. Stephens Inc. AR purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $209,000. Meeder Asset Management Inc. boosted its position in shares of Old Dominion Freight Line by 224.1% during the 4th quarter. Meeder Asset Management Inc. now owns 7,156 shares of the transportation company’s stock worth $941,000 after purchasing an additional 4,948 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of Old Dominion Freight Line by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 188,555 shares of the transportation company’s stock worth $24,804,000 after purchasing an additional 6,130 shares during the period. 72.04% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line (NASDAQ ODFL) opened at $138.52 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.67 and a quick ratio of 1.44. Old Dominion Freight Line has a 1 year low of $80.56 and a 1 year high of $150.31. The company has a market cap of $11,420.00, a P/E ratio of 31.77 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, February 8th. The transportation company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Old Dominion Freight Line had a net margin of 13.81% and a return on equity of 17.37%. The company had revenue of $891.12 million during the quarter, compared to analysts’ expectations of $879.00 million. During the same quarter last year, the company posted $0.83 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. equities research analysts forecast that Old Dominion Freight Line will post 5.87 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.38%. The ex-dividend date is Monday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.10. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.17%.

A number of equities analysts recently weighed in on ODFL shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $111.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, October 26th. Citigroup increased their price objective on shares of Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Buckingham Research increased their price objective on shares of Old Dominion Freight Line from $105.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. ValuEngine cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Deutsche Bank cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $119.00 to $101.00 in a research report on Monday, December 4th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $122.08.

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Old Dominion Freight Line Company Profile

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.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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