Asset Management One Co. Ltd. Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Asset Management One Co. Ltd. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,309 shares of the transportation company's stock after acquiring an additional 1,948 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Old Dominion Freight Line were worth $13,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after buying an additional 750,073 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock worth $136,130,000 after buying an additional 681,858 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock worth $207,068,000 after buying an additional 437,700 shares in the last quarter. State Street Corp grew its holdings in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock worth $1,516,324,000 after buying an additional 279,946 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company's stock worth $959,005,000 after buying an additional 275,236 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 2.0 %

Shares of ODFL traded down $4.18 during mid-day trading on Wednesday, hitting $205.11. 1,284,880 shares of the company's stock were exchanged, compared to its average volume of 1,520,446. The company has a market cap of $43.79 billion, a price-to-earnings ratio of 37.43, a P/E/G ratio of 3.03 and a beta of 1.05. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock's 50-day moving average is $189.48 and its 200-day moving average is $197.91.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ODFL. BMO Capital Markets dropped their target price 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. The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Robert W. Baird lowered their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Evercore ISI boosted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group boosted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $203.33.

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.