Teachers Retirement System of The State of Kentucky Sells 383 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,305 shares of the transportation company’s stock after selling 383 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Old Dominion Freight Line were worth $2,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in shares of Old Dominion Freight Line by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after buying an additional 27 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Old Dominion Freight Line by 29.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 114,614 shares of the transportation company’s stock valued at $46,460,000 after purchasing an additional 25,769 shares during the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $358,000. Tower Research Capital LLC TRC grew its position in shares of Old Dominion Freight Line by 37.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,838 shares of the transportation company’s stock valued at $6,825,000 after purchasing an additional 4,549 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Old Dominion Freight Line by 3.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 14,866 shares of the transportation company’s stock worth $6,026,000 after purchasing an additional 463 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ODFL. Bank of America cut their price target on 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. Susquehanna raised their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. TD Cowen decreased their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Stephens restated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $201.39.

Old Dominion Freight Line Trading Down 1.3 %

NASDAQ ODFL opened at $190.93 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The company’s 50-day moving average price is $196.29 and its 200-day moving average price is $194.56. The stock has a market cap of $41.49 billion, a PE ratio of 33.61, a PEG ratio of 4.08 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

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.