UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 142,809 Shares of Old Dominion Freight Line, Inc. $ODFL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,114,345 shares of the transportation company’s stock after purchasing an additional 142,809 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.54% of Old Dominion Freight Line worth $241,367,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Bell Investment Advisors Inc bought a new stake in Old Dominion Freight Line during the second quarter worth $25,000. Solstein Capital LLC bought a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $26,000. EFG International AG bought a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $29,000. Transamerica Financial Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the sale, the senior vice president directly owned 22,746 shares in the company, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.20% of the stock is owned by insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $199.96 on Tuesday. The stock has a market capitalization of $41.46 billion, a PE ratio of 38.53, a P/E/G ratio of 3.45 and a beta of 1.18. The business has a fifty day moving average price of $217.18 and a two-hundred day moving average price of $210.66. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ODFL. UBS Group reiterated a “neutral” rating and issued a $228.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Wall Street Zen downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Saturday. Argus raised their price target on Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Weiss Ratings downgraded shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Company Profile

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.