Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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.’s holdings in Old Dominion Freight Line were worth $58,265,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $35,000. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $41,000. Brown Brothers Harriman & Co. increased its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc lifted its stake in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after buying an additional 110 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 3.2 %

Shares of NASDAQ:ODFL opened at $164.85 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $35.04 billion, a PE ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26. The firm has a fifty day moving average price of $182.63 and a 200 day moving average price of $193.54.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results 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%. Analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ODFL. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 target price on the stock. Morgan Stanley raised their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price target for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Finally, The Goldman Sachs Group raised their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $201.40.

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.