Murphy & Mullick Capital Management Corp Takes $51,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Murphy & Mullick Capital Management Corp bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 290 shares of the transportation company’s stock, valued at approximately $51,000.

Several other hedge funds have also added to or reduced their stakes in ODFL. TD Asset Management Inc. lifted its stake in shares of Old Dominion Freight Line by 8.3% in the 4th quarter. TD Asset Management Inc. now owns 674,768 shares of the transportation company’s stock valued at $119,029,000 after acquiring an additional 51,574 shares during the last quarter. ICW Investment Advisors LLC lifted its position in Old Dominion Freight Line by 4.1% in the fourth quarter. ICW Investment Advisors LLC now owns 2,089 shares of the transportation company’s stock valued at $368,000 after purchasing an additional 83 shares during the last quarter. Stevens Capital Management LP boosted its stake in shares of Old Dominion Freight Line by 58.9% during the fourth quarter. Stevens Capital Management LP now owns 1,954 shares of the transportation company’s stock valued at $345,000 after purchasing an additional 724 shares during the period. LPL Financial LLC grew its holdings in shares of Old Dominion Freight Line by 11.9% in the fourth quarter. LPL Financial LLC now owns 127,572 shares of the transportation company’s stock worth $22,504,000 after purchasing an additional 13,606 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $12,030,000. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ODFL shares. Morgan Stanley increased their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Truist Financial began coverage on shares of Old Dominion Freight Line in a report on Thursday, March 13th. They set a “buy” rating and a $220.00 target price for the company. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $200.00 in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Finally, Bank of America cut their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $201.40.

Old Dominion Freight Line Stock Up 0.9 %

ODFL stock opened at $170.23 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $183.12 and a 200 day moving average of $193.71. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26. The firm has a market cap of $36.18 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

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 for the quarter, beating the consensus estimate 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%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 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.