Kentucky Retirement Systems Has $2.19 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Kentucky Retirement Systems raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,206 shares of the transportation company’s stock after purchasing an additional 247 shares during the quarter. Kentucky Retirement Systems’ holdings in Old Dominion Freight Line were worth $2,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line during the first quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $35,000. Itau Unibanco Holding S.A. boosted its stake in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $51,000. Finally, CoreCap Advisors LLC increased its position in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after buying an additional 168 shares during the period. 77.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ODFL shares. Raymond James Financial set a $185.00 target price on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Thursday, April 24th. Bank of America boosted their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the stock an “underweight” rating in a report on Thursday, April 24th. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, Susquehanna lowered their price objective on Old Dominion Freight Line from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $176.10.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $161.36 on Tuesday. The stock has a market cap of $34.10 billion, a PE ratio of 30.27, a P/E/G ratio of 3.21 and a beta of 1.27. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $159.59 and its two-hundred day moving average price is $173.16. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. Old Dominion Freight Line’s payout ratio is presently 21.01%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.