Nissay Asset Management Corp Japan Grows Stake in Old Dominion Freight Line, Inc. $ODFL

Nissay Asset Management Corp Japan grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,443 shares of the transportation company’s stock after acquiring an additional 3,200 shares during the period. Nissay Asset Management Corp Japan’s holdings in Old Dominion Freight Line were worth $12,875,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ODFL. Bogart Wealth LLC raised its holdings in shares of Old Dominion Freight Line by 9.9% in the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock worth $100,000 after purchasing an additional 46 shares during the period. Private Advisor Group LLC grew its holdings in Old Dominion Freight Line by 1.3% during the first quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after purchasing an additional 55 shares during the period. Keybank National Association OH grew its holdings in Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 56 shares during the period. Deseret Mutual Benefit Administrators increased its position in Old Dominion Freight Line by 9.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after buying an additional 57 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In related news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the sale, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $244.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Barclays lifted their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Argus boosted their price objective on Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Rothschild & Co Redburn dropped their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $198.63 on Friday. The company’s fifty day simple moving average is $217.58 and its two-hundred day simple moving average is $210.52. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The stock has a market capitalization of $41.19 billion, a price-to-earnings ratio of 38.27, a PEG ratio of 3.45 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business posted $1.27 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is presently 22.35%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.