Dai ichi Life Insurance Company Ltd Has $1.63 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Dai ichi Life Insurance Company Ltd lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 42.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,220 shares of the transportation company’s stock after selling 6,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Old Dominion Freight Line were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $25,000. Atwood & Palmer Inc. boosted its holdings in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after acquiring an additional 163 shares during the period. LRI Investments LLC grew its position in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $224.11 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $47.85 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 4.71 and a beta of 0.99. The company has a 50 day simple moving average of $205.13 and a 200 day simple moving average of $193.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Susquehanna reduced their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. TD Cowen reduced their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Robert W. Baird cut their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, BMO Capital Markets lowered their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $200.41.

Insider Transactions at Old Dominion Freight Line

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

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.