Teachers Retirement System of The State of Kentucky Sells 290 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Teachers Retirement System of The State of Kentucky lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,015 shares of the transportation company’s stock after selling 290 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Old Dominion Freight Line were worth $2,784,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ODFL. State Street Corp raised its holdings in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after acquiring an additional 279,946 shares during the period. Bank of New York Mellon Corp increased its holdings in Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP raised its stake in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Old Dominion Freight Line by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 1.2 %

Old Dominion Freight Line stock opened at $200.69 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50-day simple moving average of $209.13 and a 200 day simple moving average of $196.09. The stock has a market capitalization of $42.85 billion, a P/E ratio of 35.09, a PEG ratio of 4.29 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Barclays raised their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, Bank of America cut their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $204.00.

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.