Daiwa Securities Group Inc. Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Daiwa Securities Group Inc. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 54.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,140 shares of the transportation company’s stock after buying an additional 21,590 shares during the period. Daiwa Securities Group Inc.’s holdings in Old Dominion Freight Line were worth $12,145,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Old Dominion Freight Line by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after purchasing an additional 270,538 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after buying an additional 78,587 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Old Dominion Freight Line by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock valued at $182,444,000 after acquiring an additional 86,427 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Old Dominion Freight Line by 39.1% during the second quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock worth $123,294,000 after buying an additional 196,350 shares in the last quarter. Finally, Bridges Investment Management Inc. grew its stake in Old Dominion Freight Line by 12.9% in the 3rd quarter. Bridges Investment Management Inc. now owns 694,620 shares of the transportation company’s stock worth $137,979,000 after acquiring an additional 79,348 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock valued at $4,028,510 in the last ninety days. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 0.9 %

NASDAQ:ODFL opened at $220.25 on Monday. 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 stock has a 50 day moving average of $203.84 and a 200-day moving average of $192.52. The firm has a market capitalization of $47.02 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 4.61 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Ratings Changes

Several equities analysts recently commented on ODFL shares. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Barclays boosted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the company from $209.00 to $197.00 in a report on Monday, October 21st. The Goldman Sachs Group decreased their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Citigroup raised their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $200.00.

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.