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

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Old Dominion Freight Line by 4.5% in Q4, owning 414,867 shares (about 0.20% of the company) valued at roughly $66.0 million.
• Company insiders have been net sellers recently—102,241 shares worth $19.87 million were sold in the last 90 days—while corporate insiders still own about 10.0% of the stock and institutional investors hold 77.82%.
• Old Dominion reported a quarterly beat with $1.14 EPS versus a $1.05 estimate and $1.33 billion in revenue (down 2.9% YoY); the stock has a $41.25 billion market cap and a consensus analyst rating of Hold with an average price target of $206.46.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,867 shares of the transportation company's stock after acquiring an additional 18,005 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Old Dominion Freight Line worth $66,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company's stock worth $499,007,000 after acquiring an additional 622,275 shares during the period. Truist Financial Corp grew its holdings in Old Dominion Freight Line by 12.9% during the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company's stock worth $12,405,000 after acquiring an additional 10,046 shares during the period. Wilson Asset Management International PTY Ltd. acquired a new stake in Old Dominion Freight Line in the third quarter valued at $4,307,000. Atlantic Union Bankshares Corp acquired a new stake in Old Dominion Freight Line in the third quarter valued at $1,999,000. Finally, Citigroup Inc. grew its holdings in Old Dominion Freight Line by 46.4% in the third quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company's stock valued at $146,507,000 after purchasing an additional 329,895 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Insider Buying and Selling

In related news, Director Bradley R. Gabosch sold 3,134 shares of the firm's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Earl E. Congdon sold 25,000 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 102,241 shares of company stock valued at $19,874,065. Corporate insiders own 10.00% of the company's stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $198.06 on Friday. The stock's 50-day moving average is $201.05 and its 200-day moving average is $174.68. The company has a market cap of $41.25 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 4.11 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. The company 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 company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Wall Street Analyst Weigh In

ODFL has been the topic of several research reports. Morgan Stanley set a $235.00 target price on Old Dominion Freight Line and gave the company an "overweight" rating in a report on Thursday, April 30th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Sunday, January 25th. Wells Fargo & Company upped their target price on Old Dominion Freight Line from $200.00 to $205.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Barclays set a $210.00 price objective on Old Dominion Freight Line and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group set a $216.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $206.46.

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.

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