State of Wisconsin Investment Board lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,200 shares of the transportation company’s stock after selling 1,290 shares during the period. State of Wisconsin Investment Board’s holdings in Old Dominion Freight Line were worth $1,162,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of Old Dominion Freight Line by 1.9% in the first quarter. IFP Advisors Inc now owns 1,839 shares of the transportation company’s stock worth $157,000 after buying an additional 34 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Old Dominion Freight Line by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,126 shares of the transportation company’s stock worth $2,064,000 after buying an additional 300 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Old Dominion Freight Line by 7.2% in the first quarter. Great West Life Assurance Co. Can now owns 55,109 shares of the transportation company’s stock worth $4,716,000 after buying an additional 3,699 shares during the period. State Treasurer State of Michigan boosted its position in shares of Old Dominion Freight Line by 0.7% in the first quarter. State Treasurer State of Michigan now owns 28,100 shares of the transportation company’s stock worth $2,405,000 after buying an additional 200 shares during the period. Finally, US Bancorp DE boosted its position in shares of Old Dominion Freight Line by 25.9% in the first quarter. US Bancorp DE now owns 20,680 shares of the transportation company’s stock worth $1,770,000 after buying an additional 4,248 shares during the period. 73.92% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on ODFL. Zacks Investment Research downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and issued a $100.00 target price on shares of Old Dominion Freight Line in a research report on Friday, September 1st. BidaskClub raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $109.00 target price (up previously from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $99.20.

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Old Dominion Freight Line, Inc. (NASDAQ:ODFL) opened at 100.11 on Thursday. The company has a 50-day moving average price of $96.98 and a 200-day moving average price of $91.37. The stock has a market cap of $8.25 billion, a P/E ratio of 25.93 and a beta of 1.07. Old Dominion Freight Line, Inc. has a one year low of $66.33 and a one year high of $103.51.

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

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

In other news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the sale, the insider now directly owns 9,516 shares of the company’s stock, valued at $930,950.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.00% of the company’s stock.

Old Dominion Freight Line Company Profile

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.

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

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