Illinois Municipal Retirement Fund raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,191 shares of the transportation company's stock after purchasing an additional 5,177 shares during the period. Illinois Municipal Retirement Fund's holdings in Old Dominion Freight Line were worth $7,311,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ODFL. American National Bank & Trust purchased a new position in Old Dominion Freight Line during the first quarter worth about $30,000. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth $35,000. Itau Unibanco Holding S.A. raised its position in 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 valued at $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 in the 4th quarter worth approximately $51,000. Finally, CoreCap Advisors LLC boosted its stake in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after buying an additional 168 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ODFL has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Stifel Nicolaus decreased their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Benchmark reissued a "hold" rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $176.35.
Get Our Latest Report on Old Dominion Freight Line
Old Dominion Freight Line Stock Down 0.8%
ODFL stock traded down $1.38 on Monday, reaching $162.30. 1,884,808 shares of the company traded hands, compared to its average volume of 1,654,112. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a fifty day simple moving average of $160.36 and a 200-day simple moving average of $171.97. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a market cap of $34.30 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 3.37 and a beta of 1.27.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) 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 analysts' expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. Old Dominion Freight Line's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.
Old Dominion Freight Line Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.28 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.69%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.
About Old Dominion Freight Line
(
Free Report)
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.
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