Mitsubishi UFJ Asset Management Co. Ltd. Has $58.27 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 322,067 shares of the transportation company's stock after purchasing an additional 35,224 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of Old Dominion Freight Line worth $58,265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in ODFL. State Street Corp grew its position in shares of Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock valued at $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC raised its position in Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company's stock valued at $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP lifted its stake in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock valued at $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company's stock valued at $264,157,000 after acquiring an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company's stock worth $220,542,000 after acquiring an additional 46,570 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on ODFL. Citigroup lowered their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. The Goldman Sachs Group increased their target price 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. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Stephens reissued an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a "hold" rating to a "buy" rating and boosted their price objective for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $200.20.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded up $0.76 during mid-day trading on Tuesday, hitting $166.21. The company's stock had a trading volume of 622,713 shares, compared to its average volume of 1,622,185. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $35.33 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.89 and a beta of 1.10. The stock's fifty day moving average price is $182.14 and its two-hundred day moving average price is $193.41. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping 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 forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current 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 given a $0.28 dividend. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

Old Dominion Freight Line 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.