Mitsubishi UFJ Trust & Banking Corp Sells 3,794 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 182,932 shares of the transportation company’s stock after selling 3,794 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Old Dominion Freight Line were worth $32,269,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank grew its holdings in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after purchasing an additional 42,880 shares during the period. Blueshift Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter valued at $630,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $600,000. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays dropped their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Citigroup lowered their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Evercore ISI raised their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Up 0.6 %

ODFL stock opened at $168.67 on Thursday. Old Dominion Freight Line, Inc. has a 1-year low of $157.67 and a 1-year high of $233.26. The stock has a market cap of $35.85 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. 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 company’s 50 day moving average is $183.51 and its 200 day moving average is $193.88.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts predict 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. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.66%. 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.