Maryland State Retirement & Pension System Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Maryland State Retirement & Pension System decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,328 shares of the transportation company’s stock after selling 895 shares during the period. Maryland State Retirement & Pension System’s holdings in Old Dominion Freight Line were worth $1,822,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $35,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $45,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $41,000. Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. Citigroup dropped their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Up 2.5 %

Shares of Old Dominion Freight Line stock opened at $165.22 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a 50-day moving average of $184.41 and a 200 day moving average of $194.30. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 1 year low of $157.67 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

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.