Kinsale Capital Group Inc. Buys 5,213 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• Kinsale Capital Group Inc. has raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.7%, acquiring a total of 31,686 shares valued at approximately $5.24 million.
• The company recently announced a quarterly dividend of $0.28, which represents a dividend yield of 0.67% and a payout ratio of 21.01%.
• Analysts have mixed sentiments on Old Dominion Freight Line, with target price estimates ranging from $102.00 to $195.00 and a consensus rating of "Hold."

Kinsale Capital Group Inc. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,686 shares of the transportation company's stock after acquiring an additional 5,213 shares during the quarter. Kinsale Capital Group Inc.'s holdings in Old Dominion Freight Line were worth $5,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ODFL. Larson Financial Group LLC lifted its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after buying an additional 108 shares in the last quarter. American National Bank & Trust bought a new position in shares of Old Dominion Freight Line in the first quarter valued at $30,000. Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line in the first quarter valued at $39,000. Itau Unibanco Holding S.A. lifted its stake in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 192 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new position in shares of Old Dominion Freight Line in the first quarter valued at $43,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $2.77 during trading hours on Monday, reaching $164.32. The stock had a trading volume of 1,633,958 shares, compared to its average volume of 1,372,077. The stock's fifty day simple moving average is $163.40 and its 200 day simple moving average is $169.45. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The firm has a market capitalization of $34.72 billion, a PE ratio of 30.83, a PEG ratio of 3.37 and a beta of 1.25.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ODFL shares. Stephens reaffirmed an "overweight" rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Stifel Nicolaus increased their target price on shares of Old Dominion Freight Line from $175.00 to $183.00 and gave the company a "buy" rating in a report on Thursday. Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Robert W. Baird started coverage on shares of Old Dominion Freight Line in a report on Tuesday, July 1st. They issued a "neutral" rating and a $164.00 target price for the company. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $174.85.

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.