121,200 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Strs Ohio

Strs Ohio purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 121,200 shares of the transportation company’s stock, valued at approximately $20,053,000.

Several other institutional investors have also bought and sold shares of ODFL. Brighton Jones LLC grew its holdings in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares in the last quarter. Triumph Capital Management bought a new position in Old Dominion Freight Line in the 4th quarter valued at $204,000. Janus Henderson Group PLC grew its stake in Old Dominion Freight Line by 2.5% in the 4th quarter. Janus Henderson Group PLC now owns 23,241 shares of the transportation company’s stock valued at $4,102,000 after purchasing an additional 570 shares during the period. OMERS ADMINISTRATION Corp lifted its position in shares of Old Dominion Freight Line by 20.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 8,179 shares of the transportation company’s stock valued at $1,443,000 after buying an additional 1,367 shares during the last quarter. Finally, NorthRock Partners LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $456,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $144.89 on Friday. The business’s 50-day moving average price is $154.84 and its two-hundred day moving average price is $159.77. Old Dominion Freight Line, Inc. has a twelve month low of $140.71 and a twelve month high of $233.26. The stock has a market cap of $30.45 billion, a P/E ratio of 28.30, a PEG ratio of 3.47 and a beta of 1.23. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $1.48 EPS. The business’s revenue was down 6.1% on a year-over-year basis. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ODFL shares. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 8th. Stephens dropped their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. The Goldman Sachs Group raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $200.00 in a research report on Monday, June 2nd. Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Thursday, July 31st. Finally, Stifel Nicolaus dropped their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.14.

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.