Texas Permanent School Fund Corp Has $8.12 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Texas Permanent School Fund Corp raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,004 shares of the transportation company’s stock after acquiring an additional 18,524 shares during the period. Texas Permanent School Fund Corp’s holdings in Old Dominion Freight Line were worth $8,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Bank of New York Mellon Corp grew its stake in Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after acquiring an additional 2,888,205 shares during the period. Norges Bank acquired a new position in Old Dominion Freight Line in the fourth quarter valued at about $495,387,000. WCM Investment Management LLC grew its stake in Old Dominion Freight Line by 95.9% in the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock valued at $435,593,000 after acquiring an additional 972,531 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 39,016.7% in the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock valued at $285,869,000 after purchasing an additional 703,471 shares in the last quarter. Finally, Canal Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 100.8% in the first quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock valued at $124,019,000 after purchasing an additional 283,884 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded up $4.64 on Thursday, hitting $186.76. The company’s stock had a trading volume of 1,560,379 shares, compared to its average volume of 1,588,305. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $177.11 and a two-hundred day moving average of $199.01. The firm has a market capitalization of $40.58 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its 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 company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a report on Monday, April 29th. Evercore ISI restated an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Barclays cut their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 12th. Morgan Stanley cut their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Wells Fargo & Company began coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $200.55.

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.