FormulaFolio Investments LLC bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,416 shares of the transportation company’s stock, valued at approximately $667,000.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of Old Dominion Freight Line by 5.6% in the fourth quarter. Signaturefd LLC now owns 950 shares of the transportation company’s stock valued at $185,000 after purchasing an additional 50 shares during the last quarter. Penserra Capital Management LLC grew its position in Old Dominion Freight Line by 30.6% in the fourth quarter. Penserra Capital Management LLC now owns 222 shares of the transportation company’s stock worth $43,000 after acquiring an additional 52 shares during the period. Bessemer Group Inc. grew its position in Old Dominion Freight Line by 23.2% in the fourth quarter. Bessemer Group Inc. now owns 313 shares of the transportation company’s stock worth $61,000 after acquiring an additional 59 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in Old Dominion Freight Line by 1.2% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,289 shares of the transportation company’s stock worth $1,032,000 after acquiring an additional 63 shares during the period. Finally, Lenox Wealth Advisors LLC boosted its position in shares of Old Dominion Freight Line by 96.2% during the fourth quarter. Lenox Wealth Advisors LLC now owns 153 shares of the transportation company’s stock worth $30,000 after buying an additional 75 shares during the period. 70.60% of the stock is owned by institutional investors and hedge funds.

ODFL stock opened at $243.40 on Thursday. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 1.89 and a beta of 1.00. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $226.92 and a 200-day simple moving average of $206.41. Old Dominion Freight Line, Inc. has a 52 week low of $123.50 and a 52 week high of $248.86.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, February 4th. The transportation company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.04. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $1.20 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Wednesday, March 3rd were given a $0.20 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Tuesday, March 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 15.66%.

A number of research analysts recently issued reports on the company. Vertical Research assumed coverage on Old Dominion Freight Line in a report on Friday, March 26th. They issued a “hold” rating and a $220.00 target price for the company. UBS Group assumed coverage on Old Dominion Freight Line in a research note on Tuesday, January 19th. They issued a “buy” rating on the stock. Smith Barney Citigroup raised their price target on Old Dominion Freight Line from $200.00 to $225.00 in a research note on Thursday, January 14th. Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, February 12th. Finally, Wolfe Research raised Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and set a $221.00 price objective on the stock in a report on Thursday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $221.25.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

Recommended Story: Relative Strength Index

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFL).

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

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.