Illinois Municipal Retirement Fund trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 49.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,014 shares of the transportation company's stock after selling 38,935 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Old Dominion Freight Line were worth $6,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line in the third quarter valued at approximately $45,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after purchasing an additional 215 shares during the period. Ashton Thomas Securities LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at $64,000. Finally, Versant Capital Management Inc raised its holdings in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.
Old Dominion Freight Line Stock Up 1.0 %
Shares of ODFL traded up $1.73 during mid-day trading on Friday, hitting $176.50. 2,123,312 shares of the company's stock were exchanged, compared to its average volume of 1,522,491. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a market cap of $37.68 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 2.89 and a beta of 1.05. The stock's 50-day moving average is $187.56 and its 200-day moving average is $197.25.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.
Old Dominion Freight Line Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.
Analyst Upgrades and Downgrades
ODFL has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Stephens reissued an "overweight" rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. StockNews.com upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. Jefferies Financial Group raised their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Finally, Susquehanna reiterated a "neutral" rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of "Hold" and an average price target of $203.72.
Read Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Profile
(
Free Report)
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.
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