TIAA CREF Investment Management LLC decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,084 shares of the transportation company’s stock after selling 19,980 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.23% of Old Dominion Freight Line worth $18,199,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in shares of Old Dominion Freight Line by 0.3% during the first quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock worth $453,000 after buying an additional 14 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of Old Dominion Freight Line by 1.9% during the second quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock worth $710,000 after buying an additional 140 shares in the last quarter. First Quadrant L P CA grew its holdings in shares of Old Dominion Freight Line by 0.4% during the second quarter. First Quadrant L P CA now owns 33,490 shares of the transportation company’s stock worth $3,190,000 after buying an additional 140 shares in the last quarter. Atria Investments LLC grew its holdings in shares of Old Dominion Freight Line by 5.5% during the second quarter. Atria Investments LLC now owns 2,925 shares of the transportation company’s stock worth $279,000 after buying an additional 153 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in shares of Old Dominion Freight Line by 0.7% during the second quarter. Aperio Group LLC now owns 23,868 shares of the transportation company’s stock worth $2,273,000 after buying an additional 157 shares in the last quarter. 73.84% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) opened at 108.84 on Thursday. The firm has a market cap of $8.97 billion, a PE ratio of 28.19 and a beta of 1.07. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $109.31. The stock’s 50 day moving average is $97.80 and its 200 day moving average is $91.97.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. The firm had revenue of $839.90 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is presently 10.39%.

In related news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction 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.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Bank of America Corporation raised shares of 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 report on Tuesday, June 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 target price on shares of Old Dominion Freight Line in a report on Friday, July 14th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $100.00 target price on shares of Old Dominion Freight Line in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $99.20.

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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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