UBS Asset Management Americas Inc. Buys 84,530 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

UBS Asset Management Americas Inc. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 562,758 shares of the transportation company’s stock after acquiring an additional 84,530 shares during the period. UBS Asset Management Americas Inc.’s holdings in Old Dominion Freight Line were worth $109,839,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ODFL. Signaturefd LLC boosted its position in Old Dominion Freight Line by 5.6% in the 4th quarter. Signaturefd LLC now owns 950 shares of the transportation company’s stock valued at $185,000 after buying an additional 50 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Old Dominion Freight Line by 30.6% in the fourth quarter. Penserra Capital Management LLC now owns 222 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 52 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Old Dominion Freight Line by 23.2% in the fourth quarter. Bessemer Group Inc. now owns 313 shares of the transportation company’s stock valued at $61,000 after acquiring an additional 59 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in Old Dominion Freight Line by 1.2% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,289 shares of the transportation company’s stock worth $1,032,000 after purchasing an additional 63 shares during the period. Finally, Lenox Wealth Advisors LLC raised its holdings in Old Dominion Freight Line by 96.2% during the 4th quarter. Lenox Wealth Advisors LLC now owns 153 shares of the transportation company’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.

ODFL has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Old Dominion Freight Line from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wolfe Research upgraded shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and set a $221.00 target price for the company in a research report on Thursday, January 7th. The Goldman Sachs Group raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $222.00 to $238.00 in a research note on Tuesday, March 16th. Vertical Research assumed coverage on Old Dominion Freight Line in a research note on Friday, March 26th. They issued a “hold” rating and a $220.00 target price on the stock. Finally, Stephens boosted their target price on Old Dominion Freight Line from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $221.25.

Shares of ODFL opened at $243.40 on Thursday. The stock has a 50 day simple moving average of $226.92 and a 200 day simple moving average of $206.41. Old Dominion Freight Line, Inc. has a 52-week low of $123.50 and a 52-week high of $248.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a market capitalization of $28.46 billion, a PE ratio of 46.19, a P/E/G ratio of 1.89 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, February 4th. The transportation company reported $1.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.04. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, March 2nd. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.33%. Old Dominion Freight Line’s dividend payout ratio is presently 15.66%.

About Old Dominion Freight Line

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

Further Reading: What is the cash asset ratio?

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFL).

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.