Teacher Retirement System of Texas Sells 104,081 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Teacher Retirement System of Texas decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 73.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,012 shares of the transportation company's stock after selling 104,081 shares during the quarter. Teacher Retirement System of Texas' holdings in Old Dominion Freight Line were worth $6,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust bought a new position in shares of Old Dominion Freight Line in the first quarter worth $30,000. Itau Unibanco Holding S.A. increased its holdings in shares of Old Dominion Freight Line by 518.9% in 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 during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $51,000. CoreCap Advisors LLC increased its holdings in shares of 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 purchasing an additional 168 shares during the period. Finally, LRI Investments LLC increased its holdings in shares of Old Dominion Freight Line by 72.0% in the fourth quarter. LRI Investments LLC now owns 368 shares of the transportation company's stock worth $65,000 after purchasing an additional 154 shares during the period. Institutional investors own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ODFL shares. Benchmark reaffirmed a "hold" rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their target price for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Wells Fargo & Company increased their target price on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an "underweight" rating in a research note on Monday. Finally, Bank of America upped their price target on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $175.05.

Old Dominion Freight Line Trading Down 3.9%

Shares of Old Dominion Freight Line stock traded down $6.72 during trading on Monday, reaching $164.31. 1,496,855 shares of the stock were exchanged, compared to its average volume of 1,653,770. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The firm has a market cap of $34.72 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.25. The stock's fifty day moving average is $162.00 and its 200 day moving average is $171.02. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. Old Dominion Freight Line's revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line's payout ratio is currently 21.01%.

Old Dominion Freight Line 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.