Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,348 shares of the transportation company’s stock after buying an additional 2,044 shares during the quarter. Retirement Systems of Alabama’s holdings in Old Dominion Freight Line were worth $8,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ODFL. SevenBridge Financial Group LLC grew its holdings in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after acquiring an additional 50 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 54 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Old Dominion Freight Line by 3.8% during the third quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock worth $301,000 after purchasing an additional 56 shares in the last quarter. Finally, Conning Inc. increased its holdings in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after buying an additional 64 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $198.98 on Wednesday. The firm has a market cap of $42.48 billion, a P/E ratio of 34.79, a P/E/G ratio of 4.21 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The business’s 50-day moving average price is $209.48 and its 200 day moving average price is $196.61. 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 announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $1.54 EPS. The company’s revenue was down 3.0% on a year-over-year basis. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent analyst reports. TD Cowen decreased their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Citigroup increased their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Bank of America lowered their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $204.00.

Insider Transactions at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Company 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.