Mitsubishi UFJ Trust & Banking Corp Lowers Position in Old Dominion Freight Line (ODFL)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 61.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,252 shares of the transportation company’s stock after selling 78,498 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Old Dominion Freight Line were worth $7,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ODFL. Financial Counselors Inc. lifted its holdings in Old Dominion Freight Line by 4.1% in the 2nd quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock valued at $1,384,000 after purchasing an additional 363 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in Old Dominion Freight Line by 5.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 7,370 shares of the transportation company’s stock valued at $1,098,000 after purchasing an additional 363 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Old Dominion Freight Line by 0.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock valued at $10,528,000 after purchasing an additional 370 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Old Dominion Freight Line by 5.0% in the 2nd quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock valued at $1,199,000 after purchasing an additional 381 shares in the last quarter. Finally, Clarus Wealth Advisors lifted its holdings in Old Dominion Freight Line by 29.0% in the 3rd quarter. Clarus Wealth Advisors now owns 1,803 shares of the transportation company’s stock valued at $291,000 after purchasing an additional 405 shares in the last quarter. 72.55% of the stock is currently owned by hedge funds and other institutional investors.

ODFL has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Old Dominion Freight Line from $158.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, October 9th. BidaskClub lowered shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Argus reduced their target price on shares of Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Finally, Bank of America upgraded shares of Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 target price on the stock in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $146.25.

Shares of ODFL stock opened at $128.75 on Friday. The stock has a market cap of $10.97 billion, a PE ratio of 20.46, a P/E/G ratio of 0.75 and a beta of 1.39. Old Dominion Freight Line has a 1-year low of $118.73 and a 1-year high of $170.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 1.92.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, October 25th. The transportation company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Old Dominion Freight Line had a net margin of 16.47% and a return on equity of 22.13%. Analysts forecast that Old Dominion Freight Line will post 7.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.40%. Old Dominion Freight Line’s payout ratio is currently 11.93%.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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