UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $241.37 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,114,345 shares of the transportation company’s stock after purchasing an additional 142,809 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Old Dominion Freight Line were worth $241,367,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ODFL. AustralianSuper Pty Ltd boosted its holdings in shares of Old Dominion Freight Line by 955.4% during the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock valued at $11,761,000 after acquiring an additional 67,898 shares in the last quarter. Summitry LLC increased its holdings in Old Dominion Freight Line by 5.4% in the 4th quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock worth $34,210,000 after purchasing an additional 11,223 shares in the last quarter. M&T Bank Corp raised its position in Old Dominion Freight Line by 76.3% in the fourth quarter. M&T Bank Corp now owns 15,204 shares of the transportation company’s stock valued at $2,384,000 after purchasing an additional 6,582 shares during the last quarter. Partners Group Holding AG raised its position in Old Dominion Freight Line by 37.0% in the fourth quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company’s stock valued at $30,518,000 after purchasing an additional 52,514 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Old Dominion Freight Line by 4.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 414,867 shares of the transportation company’s stock valued at $66,043,000 after purchasing an additional 18,005 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ODFL. Morgan Stanley reaffirmed an “equal weight” rating and issued a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Wall Street Zen downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group reaffirmed a “neutral” rating and issued a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $226.55.

Old Dominion Freight Line Stock Up 0.7%

Shares of NASDAQ:ODFL opened at $199.96 on Tuesday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The stock’s 50 day moving average is $217.18 and its 200-day moving average is $210.66. The firm has a market capitalization of $41.46 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 3.45 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $1.27 EPS. Old Dominion Freight Line’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is 22.35%.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

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.