Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,932 shares of the transportation company's stock after selling 3,794 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Old Dominion Freight Line worth $32,269,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ODFL. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Brown Brothers Harriman & Co. boosted its position in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on ODFL shares. Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a "neutral" rating for the company in a research report on Monday. Bank of America lowered their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group increased their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Barclays dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Finally, Citigroup reduced their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average target price of $200.20.

Old Dominion Freight Line Stock Up 0.1 %

Shares of ODFL stock traded up $0.21 on Monday, hitting $165.06. The stock had a trading volume of 273,342 shares, compared to its average volume of 1,620,746. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a one year low of $157.67 and a one year high of $233.26. The business has a 50 day moving average price of $182.63 and a 200 day moving average price of $193.59. The company has a market cap of $35.08 billion, a PE ratio of 30.12, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's payout ratio is 18.98%.

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.