Old Dominion Freight Line (ODFL) Holdings Boosted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its position in Old Dominion Freight Line (NASDAQ:ODFL) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,852 shares of the transportation company’s stock after purchasing an additional 4,533 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Old Dominion Freight Line worth $35,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Counselors Inc. boosted its position in shares of Old Dominion Freight Line by 4.1% during the second quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock worth $1,384,000 after acquiring an additional 363 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Old Dominion Freight Line by 5.2% during the second quarter. OppenheimerFunds Inc. now owns 7,370 shares of the transportation company’s stock worth $1,098,000 after acquiring an additional 363 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Old Dominion Freight Line by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock worth $10,528,000 after acquiring an additional 370 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Old Dominion Freight Line by 5.0% during the second quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock worth $1,199,000 after acquiring an additional 381 shares during the last quarter. Finally, Clarus Wealth Advisors boosted its position in shares of Old Dominion Freight Line by 29.0% during the third quarter. Clarus Wealth Advisors now owns 1,803 shares of the transportation company’s stock worth $291,000 after acquiring an additional 405 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

ODFL has been the subject of a number of research reports. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Argus dropped their target price on shares of Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, October 29th. ValuEngine lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Bank of America upgraded shares of Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 target price for the company in a research report on Tuesday, October 30th. Finally, Morgan Stanley lowered shares of Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $160.00 to $146.00 in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $146.25.

Old Dominion Freight Line stock opened at $129.68 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.60 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. Old Dominion Freight Line has a 52-week low of $118.73 and a 52-week high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. On average, equities research analysts predict that Old Dominion Freight Line will post 7.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, December 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 11.93%.

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Old Dominion Freight Line Profile

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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