Sumitomo Mitsui Trust Holdings Inc. Purchases 248,948 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 101.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 495,051 shares of the transportation company’s stock after acquiring an additional 248,948 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Old Dominion Freight Line worth $108,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC raised its position in shares of Old Dominion Freight Line by 126.9% during the first quarter. SeaCrest Wealth Management LLC now owns 3,775 shares of the transportation company’s stock valued at $828,000 after buying an additional 2,111 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Old Dominion Freight Line by 121.5% in the first quarter. Wasatch Advisors LP now owns 6,506 shares of the transportation company’s stock valued at $1,427,000 after purchasing an additional 3,569 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. State of Michigan Retirement System now owns 77,388 shares of the transportation company’s stock valued at $16,972,000 after purchasing an additional 38,694 shares in the last quarter. MV Capital Management Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. MV Capital Management Inc. now owns 156 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Old Dominion Freight Line by 100.5% in the first quarter. Capital Advisors Ltd. LLC now owns 796 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. TD Cowen cut their target price on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. Baird R W raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Raymond James cut their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, Barclays cut 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 report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $201.18.

Read Our Latest Report on ODFL

Old Dominion Freight Line Stock Performance

ODFL stock opened at $181.87 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The business has a 50-day moving average price of $177.46 and a 200 day moving average price of $199.82. The company has a market capitalization of $39.52 billion, a P/E ratio of 32.02, a PEG ratio of 2.37 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, equities research 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 company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Old Dominion Freight Line Profile

(Free Report)

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.

See Also

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

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