Sumitomo Mitsui Trust Holdings Inc. Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 101.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 495,051 shares of the transportation company’s stock after acquiring an additional 248,948 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Old Dominion Freight Line were worth $108,570,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co raised its position in Old Dominion Freight Line by 162.9% in the 1st quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock valued at $1,612,000 after purchasing an additional 4,554 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares in the last quarter. Rise Advisors LLC raised its position in Old Dominion Freight Line by 369.2% in the 1st quarter. Rise Advisors LLC now owns 183 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 144 shares in the last quarter. AMF Tjanstepension AB raised its position in Old Dominion Freight Line by 100.0% in the 1st quarter. AMF Tjanstepension AB now owns 41,532 shares of the transportation company’s stock valued at $9,110,000 after purchasing an additional 20,766 shares in the last quarter. Finally, US Bancorp DE raised its position in Old Dominion Freight Line by 1.0% in the 4th quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock valued at $7,351,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.2 %

Shares of ODFL stock opened at $181.87 on Thursday. The business’s fifty day moving average price is $177.46 and its 200 day moving average price is $199.82. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The firm has a market capitalization of $39.52 billion, a PE ratio of 32.02, a P/E/G ratio of 2.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ODFL. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company began coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price on the stock. UBS Group raised their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price on the stock in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $201.18.

Old Dominion Freight Line 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.