Illinois Municipal Retirement Fund Sells 38,935 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Illinois Municipal Retirement Fund decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 49.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,014 shares of the transportation company’s stock after selling 38,935 shares during the period. Illinois Municipal Retirement Fund’s holdings in Old Dominion Freight Line were worth $6,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ODFL. SevenBridge Financial Group LLC lifted its holdings in shares of Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after acquiring an additional 50 shares during the period. Advisors Asset Management Inc. raised its position in Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after purchasing an additional 55 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after purchasing an additional 55 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Old Dominion Freight Line by 0.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock valued at $1,668,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.3 %

Shares of ODFL stock opened at $175.69 on Thursday. The stock has a 50-day moving average of $187.92 and a 200-day moving average of $197.49. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $37.51 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ODFL shares. Jefferies Financial Group boosted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. The Goldman Sachs Group raised their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Finally, Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.72.

Old Dominion Freight Line Company Profile

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.