Retirement Systems of Alabama cut its position in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 149,679 shares of the transportation company’s stock after selling 3,089 shares during the quarter. Retirement Systems of Alabama owned approximately 0.18% of Old Dominion Freight Line worth $19,690,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in ODFL. Fieldpoint Private Securities LLC purchased a new position in Old Dominion Freight Line during the third quarter worth about $100,000. Salem Investment Counselors Inc. boosted its holdings in Old Dominion Freight Line by 3,281.3% during the third quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock worth $118,000 after purchasing an additional 1,050 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in Old Dominion Freight Line during the third quarter worth about $123,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $132,000. Finally, FDx Advisors Inc. purchased a new position in Old Dominion Freight Line during the third quarter worth about $204,000. Institutional investors and hedge funds own 72.04% of the company’s stock.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at $136.45 on Friday. Old Dominion Freight Line has a 12-month low of $80.56 and a 12-month high of $150.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.67 and a quick ratio of 1.44. The stock has a market cap of $11,410.72, a P/E ratio of 24.28 and a beta of 1.22.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, February 8th. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Old Dominion Freight Line had a net margin of 13.81% and a return on equity of 17.37%. The company had revenue of $891.12 million for the quarter, compared to analyst estimates of $879.00 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. sell-side analysts expect that Old Dominion Freight Line will post 6.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.38%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.10. Old Dominion Freight Line’s payout ratio is 7.12%.
ODFL has been the topic of several research reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $111.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, October 26th. Citigroup lifted their price objective on shares of Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Buckingham Research lifted their price objective on shares of Old Dominion Freight Line from $105.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. ValuEngine lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Deutsche Bank lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $119.00 to $101.00 in a research report on Monday, December 4th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $122.08.
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About Old Dominion Freight Line
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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