Sumitomo Mitsui Asset Management Company LTD Buys New Position in Old Dominion Freight Line (ODFL)

Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,807 shares of the transportation company’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ODFL. JPMorgan Chase & Co. boosted its stake in shares of Old Dominion Freight Line by 8.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,092,478 shares of the transportation company’s stock valued at $227,557,000 after purchasing an additional 169,109 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Old Dominion Freight Line by 6.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,234,395 shares of the transportation company’s stock worth $246,030,000 after acquiring an additional 134,463 shares in the last quarter. Prudential Financial Inc. boosted its stake in Old Dominion Freight Line by 63.4% during the third quarter. Prudential Financial Inc. now owns 261,206 shares of the transportation company’s stock worth $28,761,000 after acquiring an additional 101,334 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Old Dominion Freight Line by 164.0% during the second quarter. Renaissance Technologies LLC now owns 128,627 shares of the transportation company’s stock worth $12,250,000 after acquiring an additional 79,900 shares in the last quarter. Finally, SPF Beheer BV boosted its stake in Old Dominion Freight Line by 6.5% during the third quarter. SPF Beheer BV now owns 822,422 shares of the transportation company’s stock worth $90,557,000 after acquiring an additional 49,878 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line (NASDAQ:ODFL) opened at $139.26 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. The stock has a market cap of $11,951.92, a PE ratio of 35.74 and a beta of 1.22. Old Dominion Freight Line has a twelve month low of $80.56 and a twelve month high of $150.31.

Several equities research analysts recently commented on ODFL shares. Bank of America lowered shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $105.00 to $102.00 in a research note on Tuesday, October 10th. They noted that the move was a valuation call. Credit Suisse Group reissued an “outperform” rating and set a $119.00 price objective (up previously from $110.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $115.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. Stifel Nicolaus reissued a “hold” rating and set a $111.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, October 26th. Finally, Citigroup boosted their price objective on shares of Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $116.92.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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