Asahi Life Asset Management CO. LTD. Makes New $319,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Asahi Life Asset Management CO. LTD. purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,810 shares of the transportation company’s stock, valued at approximately $319,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norden Group LLC increased its position in Old Dominion Freight Line by 4.9% during the fourth quarter. Norden Group LLC now owns 1,416 shares of the transportation company’s stock worth $250,000 after buying an additional 66 shares during the last quarter. Kinsale Capital Group Inc. increased its position in Old Dominion Freight Line by 13.7% during the fourth quarter. Kinsale Capital Group Inc. now owns 26,473 shares of the transportation company’s stock worth $4,670,000 after buying an additional 3,180 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth approximately $69,000. Smartleaf Asset Management LLC increased its position in Old Dominion Freight Line by 62.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,150 shares of the transportation company’s stock worth $204,000 after buying an additional 441 shares during the last quarter. Finally, Middleton & Co. Inc. MA increased its position in Old Dominion Freight Line by 0.3% during the fourth quarter. Middleton & Co. Inc. MA now owns 26,679 shares of the transportation company’s stock worth $4,706,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODFL shares. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. Morgan Stanley boosted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Bank of America reduced their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $203.72.

Old Dominion Freight Line Trading Up 1.0 %

Shares of ODFL stock opened at $176.50 on Monday. The stock’s fifty day moving average price is $187.56 and its two-hundred day moving average price is $197.28. The company has a market cap of $37.51 billion, a PE ratio of 32.21, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week 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.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.