Banco Santander S.A. Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Banco Santander S.A. decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,511 shares of the transportation company’s stock after selling 7,764 shares during the period. Banco Santander S.A.’s holdings in Old Dominion Freight Line were worth $3,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ODFL. Wellington Management Group LLP raised its holdings in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after acquiring an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Old Dominion Freight Line in the fourth quarter worth about $128,221,000. Raymond James Financial Inc. purchased a new position in Old Dominion Freight Line during the 4th quarter valued at $114,449,000. Franklin Resources Inc. grew its holdings in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Old Dominion Freight Line during the 4th quarter worth $49,983,000. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Evercore ISI increased their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $202.53.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $179.55 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a market cap of $38.16 billion, a P/E ratio of 32.76, a PEG ratio of 2.89 and a beta of 1.10. The firm has a fifty day moving average price of $187.08 and a 200 day moving average price of $196.49.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts predict 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. Stockholders of record on Wednesday, March 5th will be issued a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 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.