New York State Teachers Retirement System lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 6.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 187,515 shares of the transportation company’s stock after selling 12,237 shares during the period. New York State Teachers Retirement System owned 0.09% of Old Dominion Freight Line worth $33,115,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line during the fourth quarter worth $29,000. Neo Ivy Capital Management acquired a new position in Old Dominion Freight Line during the fourth quarter worth $40,000. Farmers & Merchants Investments Inc. raised its holdings in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in Old Dominion Freight Line by 135.7% during the fourth quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.
Old Dominion Freight Line Stock Up 1.4 %
Shares of Old Dominion Freight Line stock opened at $203.77 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 market capitalization of $44.28 billion, a price-to-earnings ratio of 35.88, a P/E/G ratio of 3.75 and a beta of 1.00. The company’s 50 day moving average price is $190.54 and its 200-day moving average price is $199.08.
Old Dominion Freight Line Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.
Wall Street Analysts Forecast Growth
ODFL has been the subject of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, July 25th. Raymond James increased their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Robert W. Baird increased their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $200.88.
Old Dominion Freight Line Profile
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.
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