Resona Asset Management Co. Ltd. Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,538 shares of the transportation company’s stock, valued at approximately $11,419,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ODFL. Hantz Financial Services Inc. raised its holdings in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after buying an additional 55 shares during the last quarter. Evergreen Private Wealth LLC raised its stake in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after buying an additional 59 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock valued at $206,000 after buying an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in Old Dominion Freight Line by 0.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.4 %

NASDAQ ODFL opened at $152.06 on Monday. Old Dominion Freight Line, Inc. has a 52 week low of $144.76 and a 52 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. The stock’s 50 day moving average price is $179.81 and its two-hundred day moving average price is $192.48. The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25.

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

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays cut their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley raised their target price 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 upped their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Finally, Susquehanna lowered their target price on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.70.

Old Dominion Freight Line 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.