Reliant Investment Management LLC acquired a new position in Old Dominion Freight Line (NASDAQ:ODFL) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,645 shares of the transportation company’s stock, valued at approximately $216,000.

A number of other institutional investors have also modified their holdings of the business. M&T Bank Corp raised its stake in Old Dominion Freight Line by 14.8% in the 4th quarter. M&T Bank Corp now owns 6,959 shares of the transportation company’s stock worth $916,000 after purchasing an additional 895 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Old Dominion Freight Line by 212.5% in the 4th quarter. Teacher Retirement System of Texas now owns 17,013 shares of the transportation company’s stock valued at $2,238,000 after buying an additional 11,569 shares during the period. Price Capital Management Inc. bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $1,924,000. ING Groep NV bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $730,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $1,133,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Shares of Old Dominion Freight Line (ODFL) opened at $132.00 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 1 year low of $80.56 and a 1 year high of $150.31. The company has a market cap of $11,698.21, a P/E ratio of 34.98 and a beta of 1.22.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be given a dividend of $0.13 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a yield of 0.39%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.85%.

ODFL has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Saturday, January 6th. Citigroup raised their target price on shares of Old Dominion Freight Line from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 27th. KeyCorp raised their target price on shares of Old Dominion Freight Line from $125.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, December 5th. Buckingham Research lifted their price target on shares of Old Dominion Freight Line from $105.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $119.00 price target (up from $110.00) on shares of Old Dominion Freight Line in a report on Thursday, October 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $119.92.

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Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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