Nomura Asset Management Co. Ltd. Purchases 5,957 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Nomura Asset Management Co. Ltd. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,772 shares of the transportation company’s stock after acquiring an additional 5,957 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $17,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC grew its stake in shares of Old Dominion Freight Line by 4.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,263 shares of the transportation company’s stock worth $576,000 after buying an additional 149 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Old Dominion Freight Line by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after acquiring an additional 395 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Old Dominion Freight Line by 16.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 71,514 shares of the transportation company’s stock valued at $12,629,000 after purchasing an additional 10,015 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Old Dominion Freight Line by 6.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 6,763 shares of the transportation company’s stock valued at $1,194,000 after purchasing an additional 435 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $80,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 0.6 %

Shares of Old Dominion Freight Line stock opened at $205.09 on Wednesday. The firm’s 50 day simple moving average is $208.49 and its two-hundred day simple moving average is $195.62. The firm has a market capitalization of $43.79 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 4.25 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $1.54 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Analyst Ratings Changes

ODFL has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Robert W. Baird cut their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Bank of America dropped their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $202.88.

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.