Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Holdings Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,370 shares of the transportation company’s stock after purchasing an additional 2,053 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Old Dominion Freight Line were worth $3,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SevenBridge Financial Group LLC boosted its stake in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after buying an additional 55 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after buying an additional 55 shares during the period. Brighton Jones LLC grew its holdings in Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after buying an additional 71 shares in the last quarter. Finally, CVA Family Office LLC increased its position in Old Dominion Freight Line by 23.5% in the 3rd quarter. CVA Family Office LLC now owns 394 shares of the transportation company’s stock valued at $78,000 after acquiring an additional 75 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 0.7 %

Old Dominion Freight Line stock opened at $197.20 on Monday. The company has a 50 day moving average price of $190.09 and a 200 day moving average price of $197.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The firm has a market capitalization of $42.10 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm 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. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Analyst Ratings Changes

ODFL has been the subject of several recent analyst reports. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Friday. Robert W. Baird decreased their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stephens restated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday. Morgan Stanley increased their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Barclays dropped their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $203.33.

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.