ExodusPoint Capital Management LP Invests $8.10 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

ExodusPoint Capital Management LP purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,937 shares of the transportation company’s stock, valued at approximately $8,103,000.

A number of other hedge funds have also bought and sold shares of ODFL. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter valued at $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $51,000. Versant Capital Management Inc lifted its position in shares of 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 worth $62,000 after buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $69,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ODFL. Bank of America cut their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Susquehanna reduced their price objective on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Truist Financial assumed coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Finally, StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $199.70.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $152.06 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $147.06 and a twelve month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $179.81 and a two-hundred day moving average of $192.53. The company has a market capitalization of $32.32 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating 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%. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. 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 dividend yield of 0.74%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.