Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,550 shares of the transportation company’s stock after acquiring an additional 4,728 shares during the period. Daiwa Securities Group Inc.’s holdings in Old Dominion Freight Line were worth $6,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. increased its holdings in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the period. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $29,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line 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 value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ODFL shares. Barclays decreased their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Morgan Stanley decreased their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. BMO Capital Markets raised their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $201.00.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $188.85 on Thursday. The stock has a market capitalization of $41.03 billion, a P/E ratio of 33.25, a PEG ratio of 3.83 and a beta of 0.99. The business has a 50 day simple moving average of $194.63 and a two-hundred day simple moving average of $196.90. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $1.33 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.65 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.55%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

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.