Retirement Systems of Alabama raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 161,916 shares of the transportation company’s stock after buying an additional 6,421 shares during the period. Retirement Systems of Alabama’s holdings in Old Dominion Freight Line were worth $15,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SRS Capital Advisors Inc. increased its position in Old Dominion Freight Line by 18.1% in the first quarter. SRS Capital Advisors Inc. now owns 1,308 shares of the transportation company’s stock worth $111,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Old Dominion Freight Line by 115.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock worth $115,000 after buying an additional 647 shares during the period. IFP Advisors Inc increased 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. Private Advisor Group LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter worth $166,000. Finally, Atria Investments LLC increased its position in shares of Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock worth $237,000 after buying an additional 69 shares during the period. Institutional investors own 75.07% of the company’s stock.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) opened at 96.75 on Wednesday. The firm has a 50 day moving average of $96.33 and a 200-day moving average of $90.19. The firm has a market cap of $7.96 billion, a P/E ratio of 25.06 and a beta of 1.08. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $103.51.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, September 1st. Old Dominion Freight Line’s payout ratio is 10.39%.

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ODFL has been the subject of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 price objective (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. Deutsche Bank AG downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $108.00 to $98.00 in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Cowen and Company upped their price objective on shares of Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have given 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.

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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