Kentucky Retirement Systems Has $2.37 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kentucky Retirement Systems reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,427 shares of the transportation company’s stock after selling 163 shares during the quarter. Kentucky Retirement Systems’ holdings in Old Dominion Freight Line were worth $2,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Old Dominion Freight Line by 5.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,026 shares of the transportation company’s stock worth $4,415,000 after purchasing an additional 1,359 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Old Dominion Freight Line by 1.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,760 shares of the transportation company’s stock worth $1,194,000 after buying an additional 84 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of Old Dominion Freight Line by 1.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 79,778 shares of the transportation company’s stock worth $14,089,000 after acquiring an additional 1,448 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in Old Dominion Freight Line in the 2nd quarter valued at approximately $211,000. Finally, Renaissance Technologies LLC acquired a new stake in Old Dominion Freight Line in the second quarter valued at approximately $82,398,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. BMO Capital Markets upped their price objective on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. TD Cowen decreased their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Susquehanna lifted their price target on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $201.83.

Old Dominion Freight Line Trading Down 5.2 %

Shares of Old Dominion Freight Line stock opened at $193.97 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The stock has a 50 day moving average price of $196.20 and a two-hundred day moving average price of $196.01. The stock has a market capitalization of $42.15 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business posted $1.33 EPS. Old Dominion Freight Line’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is 18.31%.

About Old Dominion Freight Line

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.