State of Alaska Department of Revenue Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

State of Alaska Department of Revenue lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 68.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,106 shares of the transportation company’s stock after purchasing an additional 18,703 shares during the quarter. State of Alaska Department of Revenue’s holdings in Old Dominion Freight Line were worth $10,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $27,000. Farmers & Merchants Investments Inc. boosted its stake 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 acquiring an additional 62 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line in the fourth quarter worth about $29,000. Finally, Headinvest LLC purchased a new stake in Old Dominion Freight Line in the third quarter worth about $30,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research report on Monday, April 29th. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets started coverage on shares of Old Dominion Freight Line in a report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 price target on the stock. Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Wednesday, May 8th. Finally, Evercore ISI restated an “in-line” rating and issued a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $201.18.

Old Dominion Freight Line Stock Down 0.2 %

Shares of NASDAQ ODFL opened at $181.87 on Thursday. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $177.46 and its 200-day moving average price is $199.82. The stock has a market capitalization of $39.52 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 2.37 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

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.