New York State Common Retirement Fund Has $60.94 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

New York State Common Retirement Fund reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 306,767 shares of the transportation company’s stock after selling 7,558 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Old Dominion Freight Line worth $60,936,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Washington Trust Advisors Inc. raised its stake in shares of Old Dominion Freight Line by 138.3% during the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after purchasing an additional 83 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $25,000. Atwood & Palmer Inc. grew its holdings in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in shares of Old Dominion Freight Line by 104.8% during the 1st quarter. Bell Investment Advisors Inc now owns 172 shares of the transportation company’s stock worth $38,000 after purchasing an additional 88 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $38,000. Institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other Old Dominion Freight Line 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 transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were 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 of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,975 shares of company stock valued at $9,386,158 over the last 90 days. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $200.98 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The business has a 50-day simple moving average of $195.57 and a 200 day simple moving average of $190.03. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $43.67 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 4.36 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ODFL. BMO Capital Markets dropped their price objective on 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. Citigroup began coverage on Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price for the company. Morgan Stanley dropped their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Finally, Bank of America dropped their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $196.39.

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.