Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 414,867 shares of the transportation company’s stock after buying an additional 18,005 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $66,043,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ODFL. Brighton Jones LLC grew its stake in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Empowered Funds LLC grew its stake in Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after purchasing an additional 5,866 shares in the last quarter. Marshall Wace LLP acquired a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $7,478,000. Jump Financial LLC acquired a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $2,891,000. Finally, AXA S.A. grew its stake in Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock valued at $3,287,000 after purchasing an additional 238 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 1.3%

Shares of ODFL opened at $198.06 on Friday. The firm has a market cap of $41.25 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 4.11 and a beta of 1.17. The stock has a 50 day moving average of $201.05 and a 200-day moving average of $174.68. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ODFL. Evercore set a $219.00 price objective on Old Dominion Freight Line in a research note on Thursday, April 30th. UBS Group lifted their target price on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Susquehanna reiterated a “neutral” rating and issued a $205.00 target price (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their target price on Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets lifted their target price on Old Dominion Freight Line from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $206.46.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares in the company, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 102,241 shares of company stock worth $19,874,065. Company insiders own 10.00% 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.