Tokio Marine Asset Management Co. Ltd. Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 524.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,387 shares of the transportation company’s stock after purchasing an additional 28,877 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $6,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ODFL. Capital Insight Partners LLC boosted its position in shares of Old Dominion Freight Line by 5.8% during the fourth quarter. Capital Insight Partners LLC now owns 25,742 shares of the transportation company’s stock valued at $4,541,000 after buying an additional 1,412 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Old Dominion Freight Line by 27.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,474 shares of the transportation company’s stock valued at $613,000 after acquiring an additional 756 shares during the last quarter. Caprock Group LLC grew its stake in shares of Old Dominion Freight Line by 5.2% in the fourth quarter. Caprock Group LLC now owns 9,424 shares of the transportation company’s stock worth $1,662,000 after acquiring an additional 468 shares during the period. Hunter Associates Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 2.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 11,785 shares of the transportation company’s stock valued at $2,083,000 after purchasing an additional 286 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.6 %

Shares of ODFL opened at $185.61 on Friday. 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 firm has a market cap of $39.63 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. The company has a 50 day simple moving average of $193.53 and a two-hundred day simple moving average of $197.91. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets lowered their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Susquehanna reiterated a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $202.44.

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.