Elo Mutual Pension Insurance Co Purchases 2,268 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Elo Mutual Pension Insurance Co increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,531 shares of the transportation company’s stock after acquiring an additional 2,268 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Old Dominion Freight Line were worth $3,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WINTON GROUP Ltd increased its holdings in shares of Old Dominion Freight Line by 27.1% in the 4th quarter. WINTON GROUP Ltd now owns 6,024 shares of the transportation company’s stock valued at $1,063,000 after acquiring an additional 1,285 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Old Dominion Freight Line by 12.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 322,067 shares of the transportation company’s stock valued at $58,265,000 after purchasing an additional 35,224 shares during the last quarter. Korea Investment CORP raised its holdings in Old Dominion Freight Line by 42.1% in the fourth quarter. Korea Investment CORP now owns 108,406 shares of the transportation company’s stock worth $19,123,000 after purchasing an additional 32,110 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its position in shares of Old Dominion Freight Line by 23.0% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 91,487 shares of the transportation company’s stock valued at $16,138,000 after buying an additional 17,100 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of Old Dominion Freight Line by 1.0% in the 4th quarter. Financial Counselors Inc. now owns 39,961 shares of the transportation company’s stock valued at $7,049,000 after buying an additional 384 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their price objective for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. Bank of America dropped their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. 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. Finally, Citigroup dropped their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $201.40.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $164.85 on Friday. The company has a 50 day moving average price of $182.63 and a 200-day moving average price of $193.54. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. The firm has a market cap of $35.04 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Old Dominion Freight Line 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.