Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,846 shares of the transportation company’s stock after purchasing an additional 4,772 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Old Dominion Freight Line were worth $12,718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter valued at approximately $45,000. Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line in the third quarter worth $64,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ODFL shares. TD Cowen decreased their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus raised their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Bank of America decreased their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley raised their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $195.88 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The firm has a market capitalization of $41.82 billion, a PE ratio of 34.24, a P/E/G ratio of 4.95 and a beta of 1.05. The business’s 50 day moving average price is $190.65 and its 200-day moving average price is $197.69.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Old Dominion Freight Line 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.