Mirae Asset Global Investments Co. Ltd. Sells 2,631 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mirae Asset Global Investments Co. Ltd. cut its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,215 shares of the transportation company's stock after selling 2,631 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Old Dominion Freight Line were worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after buying an additional 79 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Old Dominion Freight Line by 45.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,980 shares of the transportation company's stock valued at $349,000 after purchasing an additional 616 shares during the period. QRG Capital Management Inc. boosted its stake in Old Dominion Freight Line by 12.5% during the 4th quarter. QRG Capital Management Inc. now owns 7,541 shares of the transportation company's stock valued at $1,330,000 after acquiring an additional 837 shares during the last quarter. Private Trust Co. NA increased its holdings in Old Dominion Freight Line by 4.4% in the fourth quarter. Private Trust Co. NA now owns 1,592 shares of the transportation company's stock valued at $281,000 after buying an additional 67 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $496,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL traded up $1.40 during mid-day trading on Wednesday, reaching $169.85. The company had a trading volume of 1,465,227 shares, compared to its average volume of 1,650,767. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26. The company's 50-day moving average is $160.94 and its 200-day moving average is $171.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $35.89 billion, a P/E ratio of 31.87, a P/E/G ratio of 3.47 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $1.34 earnings per share. The company's revenue was down 5.8% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's payout ratio is presently 21.01%.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent analyst reports. Baird R W raised Old Dominion Freight Line to a "hold" rating in a research note on Tuesday. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a report on Thursday, April 24th. Evercore ISI decreased their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. Raymond James Financial set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $174.55.

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.