Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 465,063 shares of the transportation company's stock after buying an additional 7,505 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Old Dominion Freight Line worth $92,380,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Versor Investments LP acquired a new position in Old Dominion Freight Line in the 3rd quarter worth about $1,404,000. Peregrine Asset Advisers Inc. acquired a new position in Old Dominion Freight Line in the 3rd quarter worth about $2,201,000. Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter worth about $64,000. State of New Jersey Common Pension Fund D increased its holdings in Old Dominion Freight Line by 0.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 71,528 shares of the transportation company's stock worth $14,208,000 after purchasing an additional 205 shares in the last quarter. Finally, Sigma Planning Corp acquired a new position in Old Dominion Freight Line in the 3rd quarter worth about $244,000. 77.82% of the stock is currently owned by institutional investors.
Old Dominion Freight Line Stock Down 0.4 %
ODFL traded down $1.01 during midday trading on Thursday, reaching $224.59. 476,546 shares of the company were exchanged, compared to its average volume of 1,546,915. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 6.38 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company's fifty day moving average price is $199.96 and its 200 day moving average price is $190.79. 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 (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The business's revenue was down 3.0% compared to the same quarter last year. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.
Old Dominion Freight Line Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is presently 18.18%.
Analyst Ratings Changes
Several brokerages have recently weighed in on ODFL. Evercore ISI decreased their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating for the company in a research note on Thursday, October 3rd. Barclays increased their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an "equal weight" rating in a research note on Wednesday. Raymond James increased their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Finally, Argus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus price target of $200.00.
Read Our Latest Research Report on Old Dominion Freight Line
Insider Activity at Old Dominion Freight Line
In related news, Chairman David S. Congdon sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company's stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by insiders.
About Old Dominion Freight Line
(
Free Report)
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.
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