Mirae Asset Global Investments Co. Ltd. Has $11.94 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,562 shares of the transportation company’s stock after acquiring an additional 5,347 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Old Dominion Freight Line were worth $11,939,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock valued at $514,000 after acquiring an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Old Dominion Freight Line by 9.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock valued at $2,911,000 after acquiring an additional 1,529 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Old Dominion Freight Line by 5.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock valued at $1,507,000 after acquiring an additional 443 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Old Dominion Freight Line by 29.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock valued at $395,000 after acquiring an additional 537 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC boosted its holdings in shares of Old Dominion Freight Line by 6.0% during the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock valued at $17,839,000 after acquiring an additional 6,133 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ODFL. Stephens cut their target price on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. TD Cowen cut their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Evercore ISI reduced their target price on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. Finally, Benchmark reiterated a “hold” rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.52.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $141.33 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a 50 day moving average price of $147.58 and a two-hundred day moving average price of $156.61. The firm has a market capitalization of $29.70 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.30 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is presently 21.88%.

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.