Korea Investment CORP Buys 32,110 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Korea Investment CORP increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 42.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,406 shares of the transportation company’s stock after acquiring an additional 32,110 shares during the quarter. Korea Investment CORP’s holdings in Old Dominion Freight Line were worth $19,123,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ODFL. Wellington Management Group LLP grew its position in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $128,221,000. Raymond James Financial Inc. bought a new position in Old Dominion Freight Line during the 4th quarter worth $114,449,000. Thrivent Financial for Lutherans lifted its holdings in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after buying an additional 573,586 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 3.2 %

Shares of NASDAQ ODFL opened at $164.85 on Friday. The company has a 50 day simple moving average of $182.63 and a 200 day simple moving average of $193.55. 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 $157.67 and a 1 year high of $233.26. The firm has a market cap of $35.04 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ODFL. Jefferies Financial Group raised their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Evercore ISI boosted their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company 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.