Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 470,875 shares of the transportation company's stock after acquiring an additional 9,781 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Old Dominion Freight Line worth $77,906,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in Old Dominion Freight Line by 29.0% in the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock worth $395,000 after purchasing an additional 537 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Old Dominion Freight Line by 13.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,191 shares of the transportation company's stock worth $7,311,000 after buying an additional 5,177 shares during the last quarter. Diversified Trust Co grew its position in shares of Old Dominion Freight Line by 2.7% in the 1st quarter. Diversified Trust Co now owns 3,989 shares of the transportation company's stock worth $660,000 after buying an additional 106 shares during the last quarter. CNB Bank raised its stake in shares of Old Dominion Freight Line by 8.2% during the 1st quarter. CNB Bank now owns 3,218 shares of the transportation company's stock worth $532,000 after acquiring an additional 245 shares in the last quarter. Finally, Perpetual Ltd lifted its position in Old Dominion Freight Line by 9.5% during the first quarter. Perpetual Ltd now owns 3,467 shares of the transportation company's stock valued at $574,000 after acquiring an additional 300 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

ODFL traded up $1.23 during midday trading on Thursday, hitting $171.08. 1,368,760 shares of the company were exchanged, compared to its average volume of 1,649,644. The company's 50 day simple moving average is $161.27 and its 200 day simple moving average is $171.67. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.65%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Analyst Ratings Changes

Several equities analysts have issued reports on ODFL shares. Bank of America lifted their price target on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Robert W. Baird started coverage on Old Dominion Freight Line in a research note on Tuesday. They issued a "neutral" rating and a $164.00 price target for the company. Susquehanna lowered their price target on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Finally, Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus 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.