Old Dominion Freight Line, Inc. $ODFL Shares Bought by MUFG Securities EMEA plc

MUFG Securities EMEA plc boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 113.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,543 shares of the transportation company’s stock after buying an additional 4,003 shares during the period. MUFG Securities EMEA plc’s holdings in Old Dominion Freight Line were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ODFL. Westside Investment Management Inc. increased its position in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after buying an additional 180 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line during the 3rd quarter valued at about $37,000. Torren Management LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $50,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by insiders.

Old Dominion Freight Line Stock Up 0.2%

Shares of ODFL opened at $229.08 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 4.68 and a beta of 1.17. The stock’s 50-day moving average price is $205.73 and its 200-day moving average price is $182.95.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of research reports. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the company an “overweight” rating in a report on Thursday, April 30th. TD Cowen reissued a “hold” rating and issued a $194.00 price objective (up from $180.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Susquehanna increased their price objective on Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Citigroup reissued a “neutral” rating and issued a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $207.08.

Old Dominion Freight Line Profile

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.