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

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.8% in the second quarter, HoldingsChannel reports. The firm owned 376,277 shares of the transportation company’s stock after purchasing an additional 23,882 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $61,070,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ODFL. Stephens Inc. AR lifted its stake in Old Dominion Freight Line by 0.7% during the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after buying an additional 67 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after acquiring an additional 71 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in shares of Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after acquiring an additional 72 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Old Dominion Freight Line by 0.6% in the 1st quarter. Summit Investment Advisors Inc. now owns 14,347 shares of the transportation company’s stock valued at $2,374,000 after acquiring an additional 79 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.6%

ODFL opened at $139.90 on Monday. The company has a market capitalization of $29.40 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The business has a 50-day moving average of $141.53 and a 200-day moving average of $153.07.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. TD Cowen lowered their price target on Old Dominion Freight Line from $159.00 to $154.00 in a report on Thursday, October 30th. The Goldman Sachs Group dropped their price target on Old Dominion Freight Line from $186.00 to $181.00 in a research report on Thursday, October 30th. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Finally, Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.33.

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.