Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,066 shares of the transportation company’s stock after selling 2,970 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Old Dominion Freight Line were worth $15,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. M&T Bank Corp increased its position in shares of Old Dominion Freight Line by 2.1% during the 3rd quarter. M&T Bank Corp now owns 25,329 shares of the transportation company’s stock valued at $5,031,000 after purchasing an additional 520 shares during the period. Coldstream Capital Management Inc. raised its position in Old Dominion Freight Line by 6.7% in the third quarter. Coldstream Capital Management Inc. now owns 3,639 shares of the transportation company’s stock worth $728,000 after acquiring an additional 230 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Old Dominion Freight Line by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 49,568 shares of the transportation company’s stock valued at $10,917,000 after acquiring an additional 12,095 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at about $1,718,000. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent research reports. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. UBS Group decreased their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. Finally, Raymond James decreased their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $195.75.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $152.23 on Friday. The company has a 50 day moving average price of $175.40 and a two-hundred day moving average price of $190.47. Old Dominion Freight Line, Inc. has a 12-month low of $145.79 and a 12-month high of $233.26. The stock has a market capitalization of $32.36 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

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.