California State Teachers Retirement System Sells 8,049 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

California State Teachers Retirement System trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,154 shares of the transportation company's stock after selling 8,049 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Old Dominion Freight Line worth $56,299,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth $128,221,000. Blueshift Asset Management LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $630,000. Ameriprise Financial Inc. lifted its stake in Old Dominion Freight Line by 2.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after purchasing an additional 35,778 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Old Dominion Freight Line by 10.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,370 shares of the transportation company's stock valued at $3,946,000 after purchasing an additional 2,053 shares during the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of Old Dominion Freight Line by 27.4% during the 4th quarter. Vest Financial LLC now owns 177,848 shares of the transportation company's stock valued at $31,372,000 after purchasing an additional 38,253 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 1.4%

Shares of ODFL traded down $2.29 during midday trading on Friday, hitting $159.72. The stock had a trading volume of 2,898,004 shares, compared to its average volume of 1,658,721. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock's 50 day moving average is $159.43 and its 200 day moving average is $179.55. The firm has a market cap of $33.75 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS 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, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is 21.01%.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. Stifel Nicolaus reduced their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective on the stock. Bank of America upped their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $182.26.

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.