Maryland State Retirement & Pension System Has $3.21 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Maryland State Retirement & Pension System lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 100.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,352 shares of the transportation company’s stock after purchasing an additional 7,676 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Old Dominion Freight Line were worth $3,212,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Farmers & Merchants Investments Inc. increased its stake in Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC bought a new stake in Old Dominion Freight Line during the third quarter worth $30,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ODFL shares. Barclays decreased their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Raymond James lowered their target price on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. BMO Capital Markets began coverage on shares of Old Dominion Freight Line in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target on the stock. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective for the company in a research report on Wednesday, May 8th. Finally, Evercore ISI restated an “in-line” rating and issued a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $201.18.

Read Our Latest Report on Old Dominion Freight Line

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $182.77 on Friday. The company has a market capitalization of $39.71 billion, a PE ratio of 32.18, a P/E/G ratio of 2.37 and a beta of 1.00. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The company has a 50 day simple moving average of $177.18 and a two-hundred day simple moving average of $199.60.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

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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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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