Gateway Investment Advisers LLC raised its position in Old Dominion Freight Line (NASDAQ:ODFL) by 6.7% in the 4th quarter, HoldingsChannel reports. The fund owned 127,810 shares of the transportation company’s stock after purchasing an additional 7,987 shares during the period. Gateway Investment Advisers LLC’s holdings in Old Dominion Freight Line were worth $16,813,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fieldpoint Private Securities LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $100,000. Salem Investment Counselors Inc. boosted its stake in shares of Old Dominion Freight Line by 3,281.3% during 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 last quarter. Pinebridge Investments L.P. purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $123,000. FDx Advisors Inc. purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $204,000. Finally, Reliance Trust Co. of Delaware purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $208,000. 72.40% of the stock is owned by institutional investors.

Shares of Old Dominion Freight Line (ODFL) opened at $145.88 on Friday. Old Dominion Freight Line has a 52-week low of $80.56 and a 52-week high of $146.37. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11,911.56, a price-to-earnings ratio of 35.93 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The firm had revenue of $872.99 million for the quarter, compared to analyst estimates of $855.85 million. During the same period last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts anticipate that Old Dominion Freight Line will post 4.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.27%. The ex-dividend date was Tuesday, December 5th. Old Dominion Freight Line’s dividend payout ratio is presently 9.85%.

Several brokerages recently issued reports on ODFL. Credit Suisse Group restated an “outperform” rating and set a $119.00 price objective (up from $110.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price objective on the stock in a research note on Tuesday, October 3rd. Stifel Nicolaus restated a “hold” rating and set a $111.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, October 26th. KeyCorp restated a “buy” rating and set a $115.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. Finally, Deutsche Bank cut Old Dominion Freight Line from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $119.00 to $101.00 in a research note on Monday, December 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $116.92.

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Old Dominion Freight Line 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.

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

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