Teachers Retirement System of The State of Kentucky Sells 290 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Teachers Retirement System of The State of Kentucky decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,015 shares of the transportation company’s stock after selling 290 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Old Dominion Freight Line were worth $2,784,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after buying an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $92,697,000. Renaissance Technologies LLC acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at $82,398,000. Finally, Bridges Investment Management Inc. grew its position in Old Dominion Freight Line by 136.0% in the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock valued at $108,657,000 after acquiring an additional 354,588 shares during the period. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on ODFL shares. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. BMO Capital Markets reduced their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Bank of America reduced their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the company from $209.00 to $197.00 in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $204.00.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $200.69 on Friday. The company has a market cap of $42.85 billion, a PE ratio of 35.09, a PEG ratio of 4.29 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company’s 50-day moving average is $209.13 and its two-hundred day moving average is $196.09.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $1.54 earnings per share. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Old Dominion Freight Line Company 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.