Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 84,530 shares of the transportation company’s stock after selling 2,242 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $14,911,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ODFL. Avanza Fonder AB purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $3,741,000. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line during the 4th quarter worth $128,221,000. Toronto Dominion Bank boosted its position in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after purchasing an additional 42,880 shares during the period. Blueshift Asset Management LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $630,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $600,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $164.85 on Monday. 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 12 month low of $157.67 and a 12 month high of $233.26. The company has a fifty day moving average price of $182.63 and a two-hundred day moving average price of $193.59. The company has a market cap of $35.04 billion, a PE ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly 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 20.40% and a return on equity of 28.02%. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent research reports. Barclays lowered their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their target price for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $201.40.

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.