Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 54.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,140 shares of the transportation company's stock after purchasing an additional 21,590 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Old Dominion Freight Line were worth $12,145,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line in the second quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its stake in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock worth $27,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock worth $31,000 after buying an additional 163 shares during the last quarter. LRI Investments LLC increased its position in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after buying an additional 79 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 189 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Insider Activity

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the 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 completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,000 shares of company stock worth $4,028,510 over the last quarter. 9.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ODFL. Bank of America cut their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday, October 24th. Stephens restated an "overweight" rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Finally, Barclays raised their price target on shares of 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $200.00.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded up $4.44 during trading hours on Monday, hitting $224.69. 320,746 shares of the company's stock were exchanged, compared to its average volume of 1,532,679. The firm has a 50 day moving average of $203.84 and a two-hundred day moving average of $192.52. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market cap of $47.97 billion, a P/E ratio of 38.99, a P/E/G ratio of 4.61 and a beta of 0.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company's revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. 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 0.46%. Old Dominion Freight Line's payout ratio is currently 18.18%.

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.