Tokio Marine Asset Management Co. Ltd. Buys 352 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Tokio Marine Asset Management Co. Ltd. grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,510 shares of the transportation company’s stock after buying an additional 352 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $1,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ODFL. Vanguard Group Inc. raised its stake in Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after buying an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares during the period. Capital Research Global Investors grew its holdings in Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the period. Capital World Investors grew its holdings in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after acquiring an additional 815,817 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 over the last 90 days. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Down 3.5 %

Shares of NASDAQ:ODFL opened at $215.57 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The stock has a market cap of $46.02 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99. The business’s 50 day moving average is $201.32 and its 200 day moving average is $191.23. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America lowered their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group lowered their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday. Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Finally, Robert W. Baird decreased their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $200.00.

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.