Daiichi Life Insurance Co. Ltd. Purchases Shares of 9,876 Old Dominion Freight Line, Inc. $ODFL

Daiichi Life Insurance Co. Ltd. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,876 shares of the transportation company’s stock, valued at approximately $2,139,000.

A number of other institutional investors have also made changes to their positions in ODFL. Bell Investment Advisors Inc bought a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Reflection Asset Management bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. bought a new position in Old Dominion Freight Line in the 1st quarter worth approximately $29,000. Finally, DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after buying an additional 180 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Evercore reiterated an “outperform” rating and set a $243.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. UBS Group reissued a “neutral” rating and issued a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Finally, Stephens restated an “overweight” rating and issued a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $226.55.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $206.47 on Monday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a market capitalization of $42.81 billion, a P/E ratio of 39.78, a P/E/G ratio of 3.59 and a beta of 1.18. The stock has a 50 day moving average of $220.21 and a two-hundred day moving average of $210.63.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.78 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 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is currently 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.