Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 68.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,106 shares of the transportation company’s stock after acquiring an additional 18,703 shares during the quarter. State of Alaska Department of Revenue’s holdings in Old Dominion Freight Line were worth $10,111,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ODFL. Fortitude Family Office LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $27,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $27,000. Farmers & Merchants Investments Inc. raised its position in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $29,000. Finally, Headinvest LLC bought a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $30,000. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BMO Capital Markets began coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 target price on the stock. UBS Group lifted their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. TD Cowen cut their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective on the stock in a research note on Wednesday, May 8th. Finally, Raymond James dropped their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $201.18.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $181.87 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market capitalization of $39.52 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 2.37 and a beta of 1.00. The business’s 50-day moving average is $177.46 and its 200-day moving average is $199.82. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a $0.26 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

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.