Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,744 shares of the transportation company’s stock after selling 416 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Old Dominion Freight Line were worth $3,139,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ODFL. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Headinvest LLC purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $34,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $40,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ODFL shares. Bank of America cut their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research report on Monday, April 29th. TD Cowen dropped their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Susquehanna dropped their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Finally, Raymond James boosted their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $204.97.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $173.30 on Thursday. Old Dominion Freight Line, Inc. has a 52 week low of $158.60 and a 52 week high of $227.80. The business’s fifty day simple moving average is $184.81 and its 200-day simple moving average is $200.86. The firm has a market cap of $37.66 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 6.01 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 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.