Nomura Holdings Inc. Purchases Shares of 4,242 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Nomura Holdings Inc. acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,242 shares of the transportation company’s stock, valued at approximately $1,719,000.

A number of other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in Old Dominion Freight Line by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after acquiring an additional 81,122 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Old Dominion Freight Line by 0.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after purchasing an additional 12,016 shares during the last quarter. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $495,387,000. Finally, Northern Trust Corp grew its stake in Old Dominion Freight Line by 5.5% during the 3rd quarter. Northern Trust Corp now owns 1,015,481 shares of the transportation company’s stock worth $415,474,000 after buying an additional 52,963 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $173.30 on Thursday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $158.60 and a 52-week high of $227.80. The company has a 50-day simple moving average of $184.81 and a 200-day simple moving average of $200.86. The company has a market capitalization of $37.66 billion, a PE ratio of 30.51, a P/E/G ratio of 2.25 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.98 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 annualized dividend and a yield of 0.60%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Susquehanna reduced their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, June 12th. Raymond James upped their price target on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target on the stock. Finally, Evercore ISI reduced their price objective on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $204.97.

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.