UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 63,383 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• UBS Asset Management Americas LLC increased its stake in Old Dominion Freight Line, buying an additional 63,383 shares to reach a total of 1,325,953 shares, valued at approximately $219.4 million.
• Multiple institutional investors have made significant changes, with Larson Financial Group increasing its stake by 234.8% during the first quarter.
• Old Dominion Freight Line recently declared a quarterly dividend of $0.28 per share, with a yield of 0.7%, set to be paid on September 17th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,325,953 shares of the transportation company's stock after buying an additional 63,383 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.63% of Old Dominion Freight Line worth $219,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. American National Bank & Trust bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $39,000. Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $39,000. Finally, Olde Wealth Management LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $43,000. Institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial raised their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley decreased their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus reduced their price target on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. UBS Group reduced their price target on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Finally, Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $167.14.

Old Dominion Freight Line Trading Up 2.1%

Shares of ODFL stock opened at $149.40 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $140.71 and a 12-month high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm's 50 day moving average is $155.37 and its 200 day moving average is $160.01. The stock has a market capitalization of $31.40 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.40 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter in the prior year, the business posted $1.48 EPS. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.

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