Old Dominion Freight Line, Inc. $ODFL Stock Position Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,277 shares of the transportation company’s stock after acquiring an additional 23,882 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Old Dominion Freight Line worth $61,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ODFL. Larson Financial Group LLC raised its position in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after purchasing an additional 108 shares during the period. Rossby Financial LCC acquired a new position in Old Dominion Freight Line during the 2nd quarter valued at approximately $28,000. Zions Bancorporation National Association UT bought a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. Chilton Capital Management LLC acquired a new stake in Old Dominion Freight Line in the second quarter worth $47,000. Finally, WPG Advisers LLC bought a new stake in Old Dominion Freight Line in the first quarter valued at $51,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ODFL has been the subject of several recent research reports. Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Monday, August 4th. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Thursday, July 31st. Susquehanna raised their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.33.

Old Dominion Freight Line Trading Up 1.6%

Shares of Old Dominion Freight Line stock opened at $139.90 on Monday. The business has a fifty day simple moving average of $141.53 and a 200-day simple moving average of $153.07. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business earned $1.43 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 22.54%.

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.