New York State Common Retirement Fund Sells 15,072 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

New York State Common Retirement Fund trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,695 shares of the transportation company's stock after selling 15,072 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Old Dominion Freight Line worth $51,455,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ODFL. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter valued at about $41,000. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line during the third quarter valued at about $45,000. Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after acquiring an additional 215 shares during the period. Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Old Dominion Freight Line during the third quarter valued at about $64,000. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Argus cut shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. StockNews.com raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. BMO Capital Markets cut their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Stephens reaffirmed an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $203.33.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $15.39 during mid-day trading on Friday, hitting $181.86. The company's stock had a trading volume of 4,378,585 shares, compared to its average volume of 1,597,189. 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $38.83 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 3.01 and a beta of 1.05. The stock has a fifty day moving average of $189.37 and a 200-day moving average of $197.90.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.98%.

About Old Dominion Freight Line

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.