Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 461,094 shares of the transportation company’s stock after selling 3,969 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Old Dominion Freight Line were worth $81,337,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ODFL. YANKCOM Partnership purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $112,000. Choreo LLC increased its stake in Old Dominion Freight Line by 25.6% during the 4th quarter. Choreo LLC now owns 7,188 shares of the transportation company’s stock worth $1,273,000 after buying an additional 1,464 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Old Dominion Freight Line by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,846 shares of the transportation company’s stock worth $12,718,000 after buying an additional 4,772 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Old Dominion Freight Line by 8.9% during the fourth quarter. E. Ohman J or Asset Management AB now owns 8,550 shares of the transportation company’s stock valued at $1,508,000 after acquiring an additional 700 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Old Dominion Freight Line by 1.3% in the fourth quarter. Valley National Advisers Inc. now owns 9,550 shares of the transportation company’s stock valued at $1,684,000 after acquiring an additional 127 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Barclays decreased their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Evercore ISI upped their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday. 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 research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two 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 company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Up 0.7 %

Shares of NASDAQ:ODFL opened at $197.20 on Monday. 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 $190.09 and its two-hundred day moving average is $197.75. The firm has a market capitalization of $42.10 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. 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 (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.69 EPS for the current 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 $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

About Old Dominion Freight Line

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.