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

Dai ichi Life Insurance Company Ltd lowered its stake in shares of 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 & Exchange Commission. The fund owned 8,220 shares of the transportation company’s stock after selling 6,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Old Dominion Freight Line were worth $1,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Old Dominion Freight Line by 0.4% in the third quarter. Bank of Montreal Can now owns 296,448 shares of the transportation company’s stock valued at $58,314,000 after purchasing an additional 1,178 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $371,000. Harvest Fund Management Co. Ltd increased its stake in shares of Old Dominion Freight Line by 50.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 9,875 shares of the transportation company’s stock valued at $1,962,000 after buying an additional 3,300 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Old Dominion Freight Line by 54.6% during the third quarter. Daiwa Securities Group Inc. now owns 61,140 shares of the transportation company’s stock worth $12,145,000 after acquiring an additional 21,590 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ODFL. BMO Capital Markets decreased their price target on 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. Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Bank of America dropped their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $200.41.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $224.11 on Thursday. The firm has a market cap of $47.85 billion, a P/E ratio of 39.18, a PEG ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm’s 50 day moving average price is $205.13 and its two-hundred day moving average price is $193.10.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

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.