E Fund Management Co. Ltd. Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

E Fund Management Co. Ltd. grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,969 shares of the transportation company’s stock after buying an additional 707 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $524,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ODFL. Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $128,221,000. Raymond James Financial Inc. purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $114,449,000. Franklin Resources Inc. increased its position in Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter worth about $49,983,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.1 %

Old Dominion Freight Line stock opened at $179.55 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. 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 price of $187.10 and a two-hundred day moving average price of $196.65. The stock has a market cap of $38.16 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ODFL. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research note on Friday. They issued a “buy” rating and a $236.00 price target on the stock. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI lifted their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.53.

Old Dominion Freight Line Company Profile

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.