Asahi Life Asset Management CO. LTD. Buys Shares of 1,810 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 - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,810 shares of the transportation company's stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SevenBridge Financial Group LLC raised its stake in Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after purchasing an additional 50 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock valued at $2,163,000 after purchasing an additional 55 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. raised its stake in Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after purchasing 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 Stock Performance

Shares of ODFL stock traded up $0.14 on Thursday, hitting $176.66. 871,411 shares of the stock traded hands, compared to its average volume of 1,529,972. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $37.55 billion, a PE ratio of 32.23, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company's fifty day moving average is $187.27 and its 200 day moving average is $196.93.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.98%.

Analysts Set New Price Targets

ODFL has been the subject of a number of research analyst reports. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Stephens reaffirmed an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Citigroup decreased their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $200.67.

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.