Daiwa Securities Group Inc. Acquires 2,463 Shares of Old Dominion Freight Line, Inc. $ODFL

Daiwa Securities Group Inc. grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,400 shares of the transportation company’s stock after purchasing an additional 2,463 shares during the period. Daiwa Securities Group Inc.’s holdings in Old Dominion Freight Line were worth $11,823,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ODFL. Westside Investment Management Inc. lifted its stake in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the last quarter. DT Investment Partners LLC lifted its stake in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in Old Dominion Freight Line during the third quarter worth about $37,000. Torren Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $41,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $50,000. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday. Rothschild & Co Redburn dropped their price target on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Wells Fargo & Company set a $235.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Friday. Evercore set a $219.00 price target on Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $208.33.

Old Dominion Freight Line Trading Down 1.2%

NASDAQ ODFL opened at $242.57 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $249.14. The stock has a 50-day moving average of $209.88 and a 200-day moving average of $185.49. The firm has a market cap of $50.45 billion, a PE ratio of 50.75, a price-to-earnings-growth ratio of 4.92 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company posted $1.19 EPS. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.37 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is 24.27%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.