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

Daiwa Securities Group Inc. grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,442 shares of the transportation company's stock after purchasing an additional 2,302 shares during the period. Daiwa Securities Group Inc.'s holdings in Old Dominion Freight Line were worth $11,191,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ODFL. Wellington Management Group LLP grew its holdings in 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 acquiring an additional 750,073 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Raymond James Financial Inc. acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $114,449,000. Franklin Resources Inc. grew its holdings in 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 acquiring an additional 437,700 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $49,983,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ODFL shares. Barclays dropped their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday. Citigroup dropped their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley raised their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their price target 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. Finally, Jefferies Financial Group increased their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $202.65.

Remove Ads

Old Dominion Freight Line Trading Down 0.9 %

Old Dominion Freight Line stock traded down $1.56 during trading on Thursday, reaching $162.98. 2,044,266 shares of the company were exchanged, compared to its average volume of 1,561,336. Old Dominion Freight Line, Inc. has a 52-week low of $159.45 and a 52-week high of $233.26. The company has a market capitalization of $34.64 billion, a P/E ratio of 29.74, a PEG ratio of 2.89 and a beta of 1.10. 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's 50 day simple moving average is $186.67 and its two-hundred day simple moving average is $195.81.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts' consensus estimates 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%. On average, equities research analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.98%.

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.