Mirae Asset Global Investments Co. Ltd. Purchases 4,772 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 70,846 shares of the transportation company's stock after acquiring an additional 4,772 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Old Dominion Freight Line were worth $12,718,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. SevenBridge Financial Group LLC lifted its stake in Old Dominion Freight Line by 2.0% during the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after buying an additional 50 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock valued at $2,163,000 after purchasing an additional 55 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after purchasing an additional 55 shares during the period. Brighton Jones LLC increased its holdings in shares of Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company's stock valued at $294,000 after purchasing an additional 71 shares during the period. Finally, CVA Family Office LLC increased its holdings in shares of Old Dominion Freight Line by 23.5% in the 3rd quarter. CVA Family Office LLC now owns 394 shares of the transportation company's stock valued at $78,000 after purchasing an additional 75 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 1.9 %

ODFL traded up $3.71 during midday trading on Monday, reaching $200.91. 732,241 shares of the company were exchanged, compared to its average volume of 1,470,830. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The stock has a market capitalization of $42.89 billion, a P/E ratio of 36.68, a PEG ratio of 5.30 and a beta of 1.05. The stock's 50-day simple moving average is $190.09 and its 200 day simple moving average is $197.75.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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%. As a group, analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.56%. Old Dominion Freight Line's payout ratio is 18.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ODFL. BMO Capital Markets dropped 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 report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday. StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Friday. Finally, Stephens restated an "overweight" rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $203.33.

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.