Nomura Asset Management Co. Ltd. Has $17.24 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Nomura Asset Management Co. Ltd. increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,772 shares of the transportation company's stock after acquiring an additional 5,957 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Old Dominion Freight Line were worth $17,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODFL. Sequoia Financial Advisors LLC lifted its position in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after purchasing an additional 1,017 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Old Dominion Freight Line in the 3rd quarter worth approximately $2,109,000. Kinsale Capital Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after buying an additional 3,614 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Old Dominion Freight Line during the third quarter worth approximately $30,745,000. Finally, Truist Financial Corp boosted its position in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock valued at $18,754,000 after acquiring an additional 7,460 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $0.28 during trading on Wednesday, reaching $204.81. The stock had a trading volume of 1,874,967 shares, compared to its average volume of 1,531,766. The stock has a market capitalization of $43.73 billion, a PE ratio of 35.81, a P/E/G ratio of 4.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick 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 business's 50-day moving average price is $208.72 and its 200 day moving average price is $195.69.

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

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.51%. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the subject of several research analyst reports. Bank of America cut their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Stephens reiterated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. BMO Capital Markets decreased their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $202.88.

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.