144,408 Shares of Old Dominion Freight Line, Inc. $ODFL Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 144,408 shares of the transportation company’s stock, valued at approximately $25,104,000. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Old Dominion Freight Line as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 4.0% during the third quarter. ProShare Advisors LLC now owns 231,701 shares of the transportation company’s stock worth $40,279,000 after buying an additional 8,850 shares during the last quarter. Americana Partners LLC acquired a new stake in shares of Old Dominion Freight Line in the third quarter worth $238,000. State of Wyoming grew its stake in shares of Old Dominion Freight Line by 133.3% in the third quarter. State of Wyoming now owns 3,002 shares of the transportation company’s stock worth $522,000 after acquiring an additional 1,715 shares during the last quarter. International Assets Investment Management LLC increased its position in Old Dominion Freight Line by 11,283.3% during the third quarter. International Assets Investment Management LLC now owns 122,712 shares of the transportation company’s stock worth $211,000 after acquiring an additional 121,634 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Old Dominion Freight Line by 33.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,669 shares of the transportation company’s stock worth $45,315,000 after acquiring an additional 64,869 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $176.23 on Tuesday. The company has a 50-day moving average of $182.95 and a 200-day moving average of $201.49. The company has a market capitalization of $36.54 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 2.87 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 28th. The transportation company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.04. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.93 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Old Dominion Freight Line’s payout ratio is presently 20.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ODFL. The Goldman Sachs Group reissued a “buy” rating and issued a $244.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Weiss Ratings downgraded shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Susquehanna cut their price objective on shares of Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Barclays set a $200.00 target price on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday. Finally, Jefferies Financial Group reissued a “hold” rating and set a $190.00 target price on shares of Old Dominion Freight Line in a research report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $217.30.

Insiders Place Their Bets

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the sale, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.