84,859 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 84,859 shares of the transportation company’s stock, valued at approximately $25,346,000. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Old Dominion Freight Line as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. Csenge Advisory Group grew its stake in Old Dominion Freight Line by 6.0% during the 4th quarter. Csenge Advisory Group now owns 872 shares of the transportation company’s stock worth $225,000 after buying an additional 49 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in Old Dominion Freight Line by 13.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 100,327 shares of the transportation company’s stock worth $35,955,000 after buying an additional 11,646 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Old Dominion Freight Line by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,108 shares of the transportation company’s stock worth $168,836,000 after buying an additional 9,293 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Old Dominion Freight Line by 36.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,820 shares of the transportation company’s stock worth $2,444,000 after buying an additional 1,836 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Old Dominion Freight Line by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,907,518 shares of the transportation company’s stock worth $681,957,000 after buying an additional 35,843 shares during the last quarter. Hedge funds and other institutional investors own 73.48% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $254.03 on Friday. The stock has a fifty day moving average price of $282.70 and a 200 day moving average price of $277.55. The stock has a market cap of $28.39 billion, a PE ratio of 23.56, a P/E/G ratio of 1.39 and a beta of 1.07. Old Dominion Freight Line, Inc. has a 1 year low of $231.31 and a 1 year high of $373.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 1.92.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The transportation company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.21. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. Old Dominion Freight Line’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 earnings per share. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 11.72 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, September 6th. Old Dominion Freight Line’s payout ratio is 11.13%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Susquehanna lowered their target price on Old Dominion Freight Line from $285.00 to $270.00 in a research note on Thursday, July 28th. Evercore ISI lowered their target price on Old Dominion Freight Line from $334.00 to $301.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 12th. Morgan Stanley lifted their target price on Old Dominion Freight Line from $310.00 to $314.00 and gave the company an “equal weight” rating in a research note on Friday, August 12th. UBS Group lowered their target price on Old Dominion Freight Line from $288.00 to $279.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Finally, Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $300.00 to $287.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $292.13.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 6,246 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total transaction of $1,874,674.44. Following the completion of the transaction, the chairman now owns 809,569 shares of the company’s stock, valued at $242,984,039.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.30% of the stock is currently owned by company insiders.

Old Dominion Freight Line Company Profile

(Get Rating)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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