Mitsubishi UFJ Trust & Banking Corp Reduces Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,644 shares of the transportation company’s stock after selling 1,015 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Old Dominion Freight Line worth $45,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. acquired a new position in shares of Old Dominion Freight Line during the second quarter worth about $35,000. State of Wyoming acquired a new position in shares of Old Dominion Freight Line during the second quarter worth about $42,000. Harbour Investments Inc. lifted its stake in shares of Old Dominion Freight Line by 184.4% during the first quarter. Harbour Investments Inc. now owns 128 shares of the transportation company’s stock worth $44,000 after purchasing an additional 83 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Old Dominion Freight Line by 275.8% during the second quarter. China Universal Asset Management Co. Ltd. now owns 124 shares of the transportation company’s stock worth $46,000 after purchasing an additional 91 shares in the last quarter. Finally, Tyler Stone Wealth Management acquired a new position in shares of Old Dominion Freight Line during the second quarter worth about $47,000. Institutional investors and hedge funds own 72.14% of the company’s stock.

Old Dominion Freight Line Stock Up 0.0 %

NASDAQ:ODFL opened at $435.33 on Friday. The firm has a market capitalization of $47.50 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The stock has a 50 day moving average of $397.01 and a 200-day moving average of $402.50. Old Dominion Freight Line, Inc. has a 52 week low of $295.80 and a 52 week high of $448.45. The company has a current ratio of 2.10, a quick ratio of 1.73 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last posted its earnings results on Wednesday, January 31st. The transportation company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.86 by $0.08. The company 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 31.18% and a net margin of 21.13%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.92 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 12.91 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a dividend yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is 14.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ODFL. Citigroup reduced their price objective on Old Dominion Freight Line from $450.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Raymond James cut their price target on Old Dominion Freight Line from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. Susquehanna boosted their price target on Old Dominion Freight Line from $465.00 to $515.00 and gave the stock a “positive” rating in a research note on Thursday. Morgan Stanley boosted their price target on Old Dominion Freight Line from $358.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Finally, Wells Fargo & Company cut their price target on Old Dominion Freight Line from $505.00 to $435.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Moderate Buy” and a consensus price target of $422.20.

Check Out Our Latest Stock Report on ODFL

Old Dominion Freight Line Company Profile

(Free Report)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

Further Reading

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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