Mitsubishi UFJ Trust & Banking Corp Sells 5,216 Shares of Old Dominion Freight Line, Inc. $ODFL

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,621 shares of the transportation company’s stock after selling 5,216 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Old Dominion Freight Line worth $23,457,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ODFL. Vanguard Group Inc. grew its holdings in Old Dominion Freight Line by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock valued at $3,693,663,000 after buying an additional 91,842 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 20.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock valued at $474,292,000 after acquiring an additional 492,563 shares during the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at $371,961,000. Lazard Asset Management LLC grew its holdings in shares of Old Dominion Freight Line by 11.6% in the second quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after purchasing an additional 200,681 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Old Dominion Freight Line by 9.7% in the second quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock worth $251,046,000 after purchasing an additional 137,068 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Robert W. Baird set a $170.00 target price on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Barclays set a $165.00 price objective on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Finally, Raymond James Financial raised their price objective on Old Dominion Freight Line from $155.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $163.33.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $173.99 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $36.38 billion, a P/E ratio of 35.01, a price-to-earnings-growth ratio of 8.66 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61. The company’s 50-day moving average is $156.87 and its 200 day moving average is $150.12.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.