Retirement Systems of Alabama reduced its position in Old Dominion Freight Line (NASDAQ:ODFL) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,662 shares of the transportation company’s stock after selling 2,559 shares during the quarter. Retirement Systems of Alabama’s holdings in Old Dominion Freight Line were worth $20,743,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at about $29,000. Oregon Public Employees Retirement Fund boosted its holdings in Old Dominion Freight Line by 9,888.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 4,140,856 shares during the period. Ranger Investment Management L.P. purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at about $36,000. JOYN Advisors Inc. boosted its holdings in Old Dominion Freight Line by 58.2% during the 4th quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 110 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 72.66% of the company’s stock.
Several equities research analysts recently weighed in on ODFL shares. Zacks Investment Research cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. KeyCorp increased their target price on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 8th. Citigroup increased their target price on Old Dominion Freight Line from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Cowen increased their target price on Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a report on Thursday, February 7th. Finally, Bank of America cut Old Dominion Freight Line from a “buy” rating to a “neutral” rating and increased their target price for the company from $154.00 to $158.00 in a report on Tuesday, February 26th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $149.20.
ODFL opened at $154.83 on Wednesday. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.98 and a quick ratio of 1.98. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $170.22.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, February 7th. The transportation company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.21. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Old Dominion Freight Line had a return on equity of 23.90% and a net margin of 14.98%. Old Dominion Freight Line’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.39 EPS. Equities research analysts forecast that Old Dominion Freight Line will post 7.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.17 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.68 dividend on an annualized basis and a yield of 0.44%. Old Dominion Freight Line’s dividend payout ratio is presently 9.21%.
In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the transaction, the senior vice president now owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.00% of the company’s stock.
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Old Dominion Freight Line Profile
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.
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