Virginia Retirement Systems ET AL raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 290.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,500 shares of the transportation company’s stock after buying an additional 26,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Old Dominion Freight Line were worth $3,381,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Laurion Capital Management LP acquired a new stake in shares of Old Dominion Freight Line during the first quarter valued at about $975,000. Bank of Montreal Can increased its stake in shares of Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock valued at $3,469,000 after buying an additional 36,224 shares during the period. Whittier Trust Co. increased its stake in shares of Old Dominion Freight Line by 2.6% in the second quarter. Whittier Trust Co. now owns 31,821 shares of the transportation company’s stock valued at $3,031,000 after buying an additional 809 shares during the period. Legal & General Group Plc increased its stake in shares of Old Dominion Freight Line by 54.5% in the first quarter. Legal & General Group Plc now owns 67,994 shares of the transportation company’s stock valued at $5,819,000 after buying an additional 23,994 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Old Dominion Freight Line by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 25,185 shares of the transportation company’s stock valued at $2,399,000 after buying an additional 1,059 shares during the period. 73.92% of the stock is currently owned by institutional investors.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) opened at 95.42 on Monday. The stock has a market cap of $7.86 billion, a P/E ratio of 24.71 and a beta of 1.08. Old Dominion Freight Line, Inc. has a 52 week low of $66.33 and a 52 week high of $103.51. The company’s 50 day moving average is $96.86 and its 200 day moving average is $90.96.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.09. The company had revenue of $839.90 million during the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. Old Dominion Freight Line’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. Equities analysts predict that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. Old Dominion Freight Line’s payout ratio is 10.39%.

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ODFL has been the topic of several recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $109.00 price target (up previously from $101.00) on shares of Old Dominion Freight Line in a 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 reduced their price target for the company from $108.00 to $98.00 in a report on Monday, July 31st. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Buckingham Research initiated coverage on shares of Old Dominion Freight Line in a report on Monday, August 21st. They issued a “neutral” rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $98.40.

In related news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the sale, the insider now directly owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.00% of the stock is currently owned by corporate insiders.

About Old Dominion Freight Line

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.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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