Oregon Public Employees Retirement Fund lowered its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,233 shares of the transportation company’s stock after selling 638 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Old Dominion Freight Line were worth $4,799,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in shares of Old Dominion Freight Line by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 337,204 shares of the transportation company’s stock worth $54,378,000 after acquiring an additional 13,251 shares during the period. Vanguard Group Inc increased its holdings in shares of Old Dominion Freight Line by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock valued at $1,041,243,000 after purchasing an additional 153,943 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $329,000. Meeder Asset Management Inc. increased its holdings in shares of Old Dominion Freight Line by 184.6% in the 4th quarter. Meeder Asset Management Inc. now owns 3,634 shares of the transportation company’s stock valued at $448,000 after purchasing an additional 2,357 shares in the last quarter. Finally, Gillespie Robinson & Grimm Inc. increased its holdings in shares of Old Dominion Freight Line by 14.8% in the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 189,695 shares of the transportation company’s stock valued at $23,425,000 after purchasing an additional 24,455 shares in the last quarter. 71.92% of the stock is currently owned by institutional investors.
Shares of ODFL opened at $146.13 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.83 billion, a PE ratio of 19.80, a P/E/G ratio of 2.14 and a beta of 1.43. Old Dominion Freight Line has a 52-week low of $115.00 and a 52-week high of $170.22.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.68 annualized dividend and a yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.21%.
In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the transaction, the senior vice president now directly owns 6,027 shares in the company, valued at approximately $915,139.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.90% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Old Dominion Freight Line from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Bank of America downgraded shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and increased their price target for the company from $154.00 to $158.00 in a report on Tuesday, February 26th. Seaport Global Securities reiterated a “buy” rating on shares of Old Dominion Freight Line in a report on Friday, April 5th. ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a report on Monday, March 11th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $149.20.
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About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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