Weitz Investment Management Inc. Lowers Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Weitz Investment Management Inc. trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,900 shares of the transportation company’s stock after selling 20,000 shares during the period. Old Dominion Freight Line makes up about 1.7% of Weitz Investment Management Inc.’s holdings, making the stock its 21st biggest holding. Weitz Investment Management Inc. owned 0.09% of Old Dominion Freight Line worth $33,498,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $69,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Stephens restated an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. StockNews.com lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $200.20.

Old Dominion Freight Line Stock Up 1.0 %

ODFL stock opened at $167.09 on Wednesday. The firm has a market cap of $35.51 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.89 and a beta of 1.10. 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 fifty day moving average price of $181.68 and a two-hundred day moving average price of $193.23. 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 released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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%. Research analysts predict 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 issued a $0.28 dividend. This is an increase 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 dividend yield of 0.67%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 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.