Meiji Yasuda Asset Management Co Ltd. Sells 110 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Meiji Yasuda Asset Management Co Ltd. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,698 shares of the transportation company’s stock after selling 110 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Old Dominion Freight Line were worth $476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after acquiring an additional 7,401,526 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after acquiring an additional 2,888,205 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Old Dominion Freight Line by 101.0% in 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 last quarter. 77.82% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Raymond James boosted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Barclays cut their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. Finally, Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $201.83.

Old Dominion Freight Line Stock Down 5.2 %

ODFL opened at $193.97 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a market cap of $42.15 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $196.20 and a 200 day moving average of $196.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Old Dominion Freight Line Company 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.