Price Capital Management Inc. acquired a new position in Old Dominion Freight Line (NASDAQ:ODFL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,628 shares of the transportation company’s stock, valued at approximately $1,924,000.
Other large investors have also recently made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new position in Old Dominion Freight Line during the third quarter valued at approximately $100,000. Salem Investment Counselors Inc. increased its position in shares of Old Dominion Freight Line by 3,281.3% in the third 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 in the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $123,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $132,000. Finally, FDx Advisors Inc. purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) traded up $2.92 during trading on Thursday, hitting $138.52. The stock had a trading volume of 603,200 shares, compared to its average volume of 646,264. Old Dominion Freight Line has a twelve month low of $80.56 and a twelve month high of $150.31. The firm has a market cap of $11,410.00, a price-to-earnings ratio of 31.77 and a beta of 1.22. The company has a current ratio of 1.67, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.10. Old Dominion Freight Line’s payout ratio is currently 9.17%.
A number of analysts have recently commented on ODFL shares. Buckingham Research boosted their price objective on Old Dominion Freight Line from $144.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Saturday, January 6th. Citigroup lifted their price target on Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. KeyCorp lifted their price target on Old Dominion Freight Line from $125.00 to $138.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $111.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, October 26th. Three equities 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. The company presently has a consensus rating of “Hold” and an average target price 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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