New York State Teachers Retirement System Sells 10,701 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

New York State Teachers Retirement System trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,297 shares of the transportation company's stock after selling 10,701 shares during the period. New York State Teachers Retirement System owned 0.08% of Old Dominion Freight Line worth $27,679,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American National Bank & Trust bought a new stake in Old Dominion Freight Line during the first quarter valued at about $30,000. Itau Unibanco Holding S.A. grew its position in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $51,000. CoreCap Advisors LLC raised its stake in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock valued at $60,000 after purchasing an additional 168 shares during the period. Finally, LRI Investments LLC lifted its holdings in Old Dominion Freight Line by 72.0% in the 4th quarter. LRI Investments LLC now owns 368 shares of the transportation company's stock worth $65,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 0.8%

NASDAQ ODFL traded up $1.40 on Wednesday, hitting $169.85. 1,465,227 shares of the stock were exchanged, compared to its average volume of 1,654,211. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.32 and a current ratio of 1.32. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The firm has a market capitalization of $35.89 billion, a P/E ratio of 31.87, a P/E/G ratio of 3.35 and a beta of 1.25. The stock has a fifty day moving average price of $160.94 and a two-hundred day moving average price of $171.68.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $1.34 EPS. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Analyst Ratings Changes

A number of brokerages have issued reports on ODFL. Jefferies Financial Group cut their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Bank of America raised their target price on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $174.55.

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.