Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Lowered by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 75.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,220 shares of the transportation company’s stock after selling 43,396 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Old Dominion Freight Line were worth $2,511,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $27,000. Farmers & Merchants Investments Inc. boosted its holdings in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. grew its position in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $29,000. Finally, Fortitude Family Office LLC lifted its position in shares of Old Dominion Freight Line by 103.0% during the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $192.61 on Monday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock’s 50-day moving average is $195.01 and its two-hundred day moving average is $196.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $41.85 billion, a P/E ratio of 33.91, a PEG ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent research reports. Evercore ISI restated an “in-line” rating and issued a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. TD Cowen cut their price objective on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Susquehanna decreased their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. cut 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 report on Friday, September 6th. Finally, Morgan Stanley reduced their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $201.00.

Old Dominion Freight Line Company Profile

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.