Old Dominion Freight Line, Inc. $ODFL Shares Bought by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,852 shares of the transportation company’s stock after buying an additional 4,166 shares during the quarter. Kinsale Capital Group Inc.’s holdings in Old Dominion Freight Line were worth $5,819,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wilkinson Global Asset Management LLC boosted its holdings in Old Dominion Freight Line by 6.0% during the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock worth $17,839,000 after buying an additional 6,133 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at $454,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Old Dominion Freight Line by 9.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,395 shares of the transportation company’s stock valued at $58,304,000 after acquiring an additional 30,328 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $778,000. Finally, Vest Financial LLC grew its holdings in shares of Old Dominion Freight Line by 66.8% in the 2nd quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock worth $27,727,000 after acquiring an additional 68,410 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.6%

NASDAQ:ODFL opened at $139.90 on Friday. The stock has a market cap of $29.40 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. The stock’s 50-day moving average is $141.53 and its two-hundred day moving average is $153.06.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the company posted $1.43 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on ODFL shares. TD Cowen decreased their price target on Old Dominion Freight Line from $159.00 to $154.00 in a research report on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on shares of Old Dominion Freight Line from $186.00 to $181.00 in a research note on Thursday, October 30th. Wolfe Research raised their target price on shares of Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Monday, August 4th. Finally, UBS Group upped their price target on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $159.33.

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.