Norinchukin Bank The Buys 4,986 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Norinchukin Bank increased its stake in Old Dominion Freight Line by 46.5% in the first quarter, acquiring nearly 5,000 additional shares, bringing its total holdings to approximately $2.6 million.
• Analysts have varying opinions on the stock, with Baird R W rating it a "hold" while Vertical Research upgraded it to "buy" with a target price of $170.00.
• Old Dominion Freight Line recently declared a quarterly dividend of $0.28, representing an annualized yield of 0.7%, with a dividend payout ratio of 21.88%.

Norinchukin Bank The increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,719 shares of the transportation company's stock after buying an additional 4,986 shares during the quarter. Norinchukin Bank The's holdings in Old Dominion Freight Line were worth $2,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its position in Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock worth $430,006,000 after buying an additional 1,151,221 shares during the period. Erste Asset Management GmbH raised its holdings in shares of Old Dominion Freight Line by 23.2% in the 1st quarter. Erste Asset Management GmbH now owns 21,240 shares of the transportation company's stock worth $3,514,000 after purchasing an additional 4,000 shares during the period. Credit Agricole S A raised its holdings in shares of Old Dominion Freight Line by 0.3% in the 1st quarter. Credit Agricole S A now owns 72,253 shares of the transportation company's stock worth $11,954,000 after purchasing an additional 186 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Old Dominion Freight Line by 4.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,039 shares of the transportation company's stock worth $668,000 after purchasing an additional 172 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Old Dominion Freight Line by 17.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,806 shares of the transportation company's stock worth $1,126,000 after purchasing an additional 999 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a report on Thursday, July 31st. TD Cowen lowered their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. reduced their price target on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Stock Down 0.4%

ODFL traded down $0.63 on Wednesday, reaching $153.86. 1,014,256 shares of the company traded hands, compared to its average volume of 1,843,172. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 52-week low of $140.91 and a 52-week high of $233.26. The stock's 50 day moving average price is $158.38 and its 200-day moving average price is $163.94. The company has a market cap of $32.34 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 3.60 and a beta of 1.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The business's revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is 21.88%.

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.