MUFG Securities EMEA plc Raises Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

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

A number of other hedge funds also recently bought and sold shares of the business. Verdence Capital Advisors LLC boosted its position in Old Dominion Freight Line by 1.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after purchasing an additional 60 shares in the last quarter. Diversified Trust Co. boosted its position in Old Dominion Freight Line by 1.7% during the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after purchasing an additional 65 shares in the last quarter. Modera Wealth Management LLC boosted its position in Old Dominion Freight Line by 2.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after purchasing an additional 72 shares in the last quarter. Cim LLC boosted its position in Old Dominion Freight Line by 1.0% during the third quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock worth $1,082,000 after purchasing an additional 75 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

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

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $229.08 on Wednesday. The business has a 50 day simple moving average of $205.73 and a two-hundred day simple moving average of $182.95. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79. The stock has a market capitalization of $47.64 billion, a P/E ratio of 47.92, a PEG ratio of 4.68 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating 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 business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore set a $219.00 price target on Old Dominion Freight Line in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on Old Dominion Freight Line from $183.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Jefferies Financial Group increased their price target on Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets increased their target price on Old Dominion Freight Line from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $207.08.

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.