Apollon Wealth Management LLC Buys 796 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Apollon Wealth Management LLC grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,383 shares of the transportation company’s stock after acquiring an additional 796 shares during the period. Apollon Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,126,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $41,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares during the last quarter. Versant Capital Management Inc increased its position in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of Old Dominion Freight Line during the third quarter valued at $64,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ODFL shares. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Stifel Nicolaus lifted their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Evercore ISI increased their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird lowered their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $201.78 on Tuesday. The company has a market cap of $43.08 billion, a P/E ratio of 36.82, a PEG ratio of 5.30 and a beta of 1.05. The company has a fifty day simple moving average of $189.63 and a 200 day simple moving average of $197.72. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. 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.