Taikang Asset Management Hong Kong Co Ltd Lowers Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Taikang Asset Management Hong Kong Co Ltd decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 65.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,391 shares of the transportation company’s stock after selling 31,555 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Old Dominion Freight Line were worth $2,891,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $35,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. increased its holdings in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ODFL. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Barclays lowered their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. Finally, StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $202.65.

Old Dominion Freight Line Price Performance

ODFL stock opened at $170.05 on Tuesday. The stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $157.67 and a 52-week high of $233.26. The stock’s fifty day simple moving average is $184.20 and its 200-day simple moving average is $194.17.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.66%. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

About Old Dominion Freight Line

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.