Arizona State Retirement System raised its stake in shares of Old Dominion Freight Line Inc. (NASDAQ:ODFL) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,019 shares of the company’s stock after buying an additional 400 shares during the period. Arizona State Retirement System’s holdings in Old Dominion Freight Line were worth $1,991,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ODFL. Fiera Capital Corp acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $40,811,000. Victory Capital Management Inc. raised its position in shares of Old Dominion Freight Line by 31.2% in the second quarter. Victory Capital Management Inc. now owns 1,695,807 shares of the company’s stock valued at $102,274,000 after buying an additional 403,122 shares during the period. Westfield Capital Management Co. LP raised its position in shares of Old Dominion Freight Line by 82.2% in the second quarter. Westfield Capital Management Co. LP now owns 582,910 shares of the company’s stock valued at $35,155,000 after buying an additional 263,060 shares during the period. Carlson Capital L P acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $11,640,000. Finally, Janus Capital Management LLC raised its position in shares of Old Dominion Freight Line by 18.2% in the second quarter. Janus Capital Management LLC now owns 1,114,462 shares of the company’s stock valued at $67,213,000 after buying an additional 171,333 shares during the period. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Old Dominion Freight Line Inc. (NASDAQ:ODFL) traded down 0.52% on Tuesday, reaching $86.56. The company’s stock had a trading volume of 618,807 shares. The stock has a 50-day moving average of $77.02 and a 200 day moving average of $68.61. Old Dominion Freight Line Inc. has a 52-week low of $48.92 and a 52-week high of $89.10. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 24.18 and a beta of 0.95.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, October 27th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.06. The business earned $782.60 million during the quarter, compared to analysts’ expectations of $319.94 million. Old Dominion Freight Line had a net margin of 10.05% and a return on equity of 17.31%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. On average, equities research analysts forecast that Old Dominion Freight Line Inc. will post $3.60 earnings per share for the current year.

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Several equities analysts have issued reports on ODFL shares. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Thursday, November 3rd. Bank of America Corp. downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating in a report on Friday, October 28th. They noted that the move was a valuation call. KeyCorp restated a “buy” rating and set a $75.00 price objective on shares of Old Dominion Freight Line in a report on Sunday, October 9th. Finally, Deutsche Bank AG started coverage on Old Dominion Freight Line in a report on Wednesday, November 2nd. They set a “buy” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $75.50.

In other news, Vice Chairman David S. Congdon sold 40,000 shares of Old Dominion Freight Line stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $85.27, for a total transaction of $3,410,800.00. Following the completion of the sale, the insider now directly owns 5,334 shares of the company’s stock, valued at approximately $454,830.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman David S. Congdon sold 815 shares of Old Dominion Freight Line stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $74.67, for a total transaction of $60,856.05. Following the sale, the insider now directly owns 5,334 shares of the company’s stock, valued at $398,289.78. The disclosure for this sale can be found here. Insiders own 14.60% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a less-than-truckload (LTL), union-free motor carrier company. The Company provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Company offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.

5 Day Chart for NASDAQ:ODFL

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