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

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 have also bought and sold shares of the company. Avanza Fonder AB purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $3,741,000. Toronto Dominion Bank raised its stake in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after purchasing an additional 42,880 shares during the period. Board of the Pension Protection Fund purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $600,000. Sequoia Financial Advisors LLC raised 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 valued at $1,188,000 after buying an additional 1,017 shares during the period. Finally, Reliant Investment Management LLC raised its position in shares of Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after buying an additional 2,060 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ODFL. Morgan Stanley boosted 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 note on Thursday, February 6th. The Goldman Sachs Group lifted their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $203.33.

Old Dominion Freight Line Stock Up 1.7 %

Shares of NASDAQ:ODFL traded up $3.37 during trading hours on Thursday, reaching $206.39. The stock had a trading volume of 1,287,511 shares, compared to its average volume of 1,525,159. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The firm's 50 day moving average is $189.28 and its 200-day moving average is $197.84. 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 has a market capitalization of $44.06 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate 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 predict that Old Dominion Freight Line, Inc. will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

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.