Daiwa Securities Group Inc. Increases Holdings in Old Dominion Freight Line, Inc. $ODFL

Daiwa Securities Group Inc. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,400 shares of the transportation company’s stock after purchasing an additional 2,463 shares during the period. Daiwa Securities Group Inc.’s holdings in Old Dominion Freight Line were worth $11,823,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Verdence Capital Advisors LLC increased its holdings in Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 60 shares during the period. Diversified Trust Co. increased its holdings in Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after purchasing an additional 65 shares during the period. Modera Wealth Management LLC increased its holdings in Old Dominion Freight Line by 2.7% during the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 72 shares during the period. Cim LLC increased its holdings in Old Dominion Freight Line by 1.0% during the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock valued at $1,082,000 after purchasing an additional 75 shares during the period. Finally, Brighton Jones LLC increased its holdings in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.2%

Old Dominion Freight Line stock opened at $242.57 on Friday. The company has a market capitalization of $50.45 billion, a P/E ratio of 50.75, a PEG ratio of 4.92 and a beta of 1.17. The stock’s 50 day moving average is $209.88 and its 200 day moving average is $185.49. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $249.14.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.37 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ODFL shares. Citigroup restated a “neutral” rating and set a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Evercore set a $219.00 price target on Old Dominion Freight Line in a report on Thursday, April 30th. Morgan Stanley set a $235.00 target price on Old Dominion Freight Line and gave the stock an “overweight” rating in a report on Thursday, April 30th. Rothschild & Co Redburn reduced their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Finally, Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.33.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by insiders.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.