5,962 Old Dominion Freight Line, Inc. $ODFL Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 446,224 shares of the transportation company’s stock after selling 5,962 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Old Dominion Freight Line worth $77,572,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Old Dominion Freight Line in the third quarter valued at $25,104,000. ProShare Advisors LLC boosted its position in shares of Old Dominion Freight Line by 4.0% during the 3rd quarter. ProShare Advisors LLC now owns 231,701 shares of the transportation company’s stock valued at $40,279,000 after purchasing an additional 8,850 shares in the last quarter. Americana Partners LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $238,000. State of Wyoming grew its stake in Old Dominion Freight Line by 133.3% during the third quarter. State of Wyoming now owns 3,002 shares of the transportation company’s stock worth $522,000 after purchasing an additional 1,715 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Old Dominion Freight Line by 11,283.3% during the third quarter. International Assets Investment Management LLC now owns 122,712 shares of the transportation company’s stock worth $211,000 after purchasing an additional 121,634 shares during the period. 77.82% of the stock is owned by institutional investors.

Insider Activity at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.20% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Up 0.8%

Shares of ODFL opened at $177.68 on Wednesday. The business’s fifty day moving average is $182.47 and its 200 day moving average is $201.51. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The stock has a market cap of $36.84 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.88 and a beta of 1.14.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.04. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $1.28 EPS. Old Dominion Freight Line’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.93 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line’s payout ratio is presently 20.86%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent analyst reports. BMO Capital Markets set a $235.00 price target on Old Dominion Freight Line in a research note on Wednesday, October 7th. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Weiss Ratings downgraded shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $240.00 to $205.00 in a report on Friday, September 4th. Finally, Barclays set a $200.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $217.30.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.