Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.4% during the second quarter, Holdings Channel.com reports. The firm owned 71,138 shares of the transportation company’s stock after purchasing an additional 4,256 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ODFL. Larson Financial Group LLC boosted its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares in the last quarter. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line in the second quarter valued at $28,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $39,000. Chilton Capital Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $47,000. Finally, WPG Advisers LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th. Barclays dropped their target price on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Susquehanna boosted their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Citigroup lowered their price target on Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $143.00 to $144.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $159.33.

Old Dominion Freight Line Trading Up 1.6%

Shares of ODFL opened at $139.90 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26. The stock has a market cap of $29.40 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The firm has a 50 day simple moving average of $141.53 and a 200-day simple moving average of $153.06.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.54%.

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.