Nicholas Company Inc. Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Nicholas Company Inc. grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,565 shares of the transportation company’s stock after purchasing an additional 5,495 shares during the quarter. Nicholas Company Inc.’s holdings in Old Dominion Freight Line were worth $16,858,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. GWN Securities Inc. purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $222,000. one8zero8 LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $431,000. Natixis Advisors LLC increased its position in shares of Old Dominion Freight Line by 10.3% during the 4th quarter. Natixis Advisors LLC now owns 358,402 shares of the transportation company’s stock valued at $63,222,000 after purchasing an additional 33,496 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $582,000. Finally, May Barnhard Investments LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $514,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ODFL shares. Susquehanna restated a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Barclays lowered their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Bank of America lowered their price objective 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. The Goldman Sachs Group boosted their price objective on 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. Finally, JPMorgan Chase & Co. boosted their price objective 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. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Down 0.3 %

Shares of NASDAQ ODFL opened at $162.50 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $159.35 and a 12 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 market capitalization of $34.54 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.89 and a beta of 1.10. The business has a 50-day moving average of $186.05 and a 200-day moving average of $195.34.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 return on equity of 28.02% and a net margin of 20.40%. Sell-side 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 company also recently announced 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. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.69%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 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.