Sumitomo Mitsui DS Asset Management Company Ltd Has $3.95 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

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

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

Old Dominion Freight Line Stock Up 0.7 %

Shares of ODFL stock opened at $197.20 on Monday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a fifty day moving average price of $190.09 and a 200 day moving average price of $197.75. The stock has a market cap of $42.10 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ODFL. BMO Capital Markets decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus upped their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line 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.