Mirae Asset Global Investments Co. Ltd. Has $11.94 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Old Dominion Freight Line by 7.8%, holding 73,562 shares valued at approximately $11.94 million.
• Old Dominion Freight Line recently reported earnings per share of $1.27, which missed analysts' estimates by $0.02, and experienced a 6.1% decline in revenue compared to the previous year.
• The company's dividend payout ratio stands at 21.88%, with a quarterly dividend of $0.28, equating to an annual yield of 0.8%.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,562 shares of the transportation company's stock after purchasing an additional 5,347 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Old Dominion Freight Line were worth $11,939,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line in the first quarter valued at approximately $39,000. Zions Bancorporation National Association UT bought a new stake in Old Dominion Freight Line in the first quarter valued at approximately $39,000. Olde Wealth Management LLC bought a new stake in Old Dominion Freight Line in the first quarter valued at approximately $43,000. Finally, WPG Advisers LLC bought a new stake in Old Dominion Freight Line in the first quarter valued at approximately $51,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ODFL. TD Cowen dropped their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Old Dominion Freight Line in a research note on Saturday, September 27th. Raymond James Financial dropped their price objective on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Finally, Benchmark reiterated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $166.52.

Old Dominion Freight Line Trading Up 0.5%

Shares of ODFL stock opened at $141.33 on Friday. The stock's fifty day moving average price is $147.58 and its two-hundred day moving average price is $156.61. The company has a market cap of $29.70 billion, a PE ratio of 27.60, a P/E/G ratio of 3.30 and a beta of 1.19. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

About Old Dominion Freight Line

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.

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