Oregon Public Employees Retirement Fund Raises Stake in Old Dominion Freight Line, Inc. $ODFL

Oregon Public Employees Retirement Fund boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,153 shares of the transportation company’s stock after acquiring an additional 5,131 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Old Dominion Freight Line were worth $2,978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ODFL. Financial Gravity Companies Inc. purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares in the last quarter. Rossby Financial LCC purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth about $28,000. Chilton Capital Management LLC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $47,000. Finally, Blue Trust Inc. boosted its position in shares of Old Dominion Freight Line by 65.5% during the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock worth $67,000 after acquiring an additional 163 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ODFL shares. Barclays decreased their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Morgan Stanley upgraded shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $165.00 to $190.00 in a research report on Monday, December 8th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Rothschild & Co Redburn assumed coverage on shares of Old Dominion Freight Line in a research report on Wednesday, November 26th. They issued a “sell” rating and a $114.00 target price on the stock. Finally, Cantor Fitzgerald set a $165.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, December 18th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $160.00.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $173.13 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61. The firm has a 50-day simple moving average of $148.62 and a 200-day simple moving average of $149.52. The company has a market capitalization of $36.20 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 8.45 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $1.43 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.