New York State Teachers Retirement System Has $33.12 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

New York State Teachers Retirement System lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) 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 (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.7 EPS for the current year.

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.