Arizona State Retirement System Sells 1,058 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Arizona State Retirement System cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,993 shares of the transportation company’s stock after selling 1,058 shares during the quarter. Arizona State Retirement System’s holdings in Old Dominion Freight Line were worth $9,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Avanza Fonder AB acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $3,741,000. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Toronto Dominion Bank increased 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 buying an additional 42,880 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC raised its position in shares of Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after buying an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 0.6 %

NASDAQ:ODFL opened at $177.58 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s 50-day moving average price is $187.17 and its 200-day moving average price is $196.79. The company has a market capitalization of $37.74 billion, a PE ratio of 32.41, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

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

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ODFL. JPMorgan Chase & Co. raised their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Evercore ISI raised their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the company from $193.00 to $200.00 in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $200.67.

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.