Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Teachers Advisors LLC

Teachers Advisors LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,951 shares of the transportation company’s stock after selling 10,128 shares during the period. Teachers Advisors LLC owned 0.09% of Old Dominion Freight Line worth $6,328,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ODFL. Louisiana State Employees Retirement System raised its stake in shares of Old Dominion Freight Line by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the transportation company’s stock worth $1,497,000 after buying an additional 400 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock worth $3,469,000 after buying an additional 36,224 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth approximately $166,000. Comerica Bank raised its stake in shares of Old Dominion Freight Line by 4.3% in the first quarter. Comerica Bank now owns 54,771 shares of the transportation company’s stock worth $4,941,000 after buying an additional 2,253 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Old Dominion Freight Line by 19.1% in the first quarter. Pacer Advisors Inc. now owns 10,941 shares of the transportation company’s stock worth $936,000 after buying an additional 1,754 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded down 0.67% during midday trading on Friday, hitting $94.79. The stock had a trading volume of 323,471 shares. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $103.51. The firm’s 50-day moving average price is $97.19 and its 200 day moving average price is $90.74. The company has a market cap of $7.81 billion, a P/E ratio of 24.55 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million during the quarter, compared to analyst estimates of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. On average, analysts expect that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s payout ratio is 10.39%.

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ODFL has been the topic of a number of recent research reports. Credit Suisse Group reissued an “outperform” rating and set a $109.00 price target (up from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price objective for the stock from $108.00 to $98.00 in a research note on Monday, July 31st. BidaskClub raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Cowen and Company lifted their price objective on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Finally, Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, July 11th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.67.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.00% of the stock is currently owned by company insiders.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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