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

Sumitomo Mitsui Trust Group Inc. lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,063 shares of the transportation company’s stock after acquiring an additional 7,505 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Old Dominion Freight Line worth $92,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ODFL. Empowered Funds LLC increased its position in shares of Old Dominion Freight Line by 189.5% in the 1st quarter. Empowered Funds LLC now owns 3,260 shares of the transportation company’s stock valued at $715,000 after acquiring an additional 2,134 shares during the period. Sei Investments Co. increased its position in shares of Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after acquiring an additional 21,438 shares during the period. QRG Capital Management Inc. boosted its holdings in Old Dominion Freight Line by 134.1% in the first quarter. QRG Capital Management Inc. now owns 4,343 shares of the transportation company’s stock valued at $953,000 after purchasing an additional 2,488 shares during the last quarter. US Bancorp DE boosted its holdings in Old Dominion Freight Line by 104.6% in the first quarter. US Bancorp DE now owns 37,097 shares of the transportation company’s stock valued at $8,136,000 after purchasing an additional 18,963 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Old Dominion Freight Line by 142.3% in the first quarter. Avantax Advisory Services Inc. now owns 6,552 shares of the transportation company’s stock valued at $1,437,000 after purchasing an additional 3,848 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 $1,664,423.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 of the company’s stock, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 in the last 90 days. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Down 0.3 %

ODFL stock opened at $225.60 on Thursday. The company has a market cap of $48.17 billion, a price-to-earnings ratio of 39.44, a PEG ratio of 6.38 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The firm has a 50-day moving average of $199.96 and a two-hundred day moving average of $190.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets lowered their price target on shares of 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. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Evercore ISI lowered their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Finally, Robert W. Baird lowered their price target on shares of 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. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $200.00.

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.