Old Dominion Freight Line, Inc. (ODFL) To Go Ex-Dividend on December 4th

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.26 per share by the transportation company on Wednesday, December 18th. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, December 4th.

Old Dominion Freight Line has increased its dividend by an average of 38.4% per year over the last three years. Old Dominion Freight Line has a dividend payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Old Dominion Freight Line to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 16.3%.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $199.54 on Friday. The stock has a market cap of $43.36 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80. The firm has a fifty day moving average price of $195.53 and a 200-day moving average price of $191.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that Old Dominion Freight Line will post 5.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James boosted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. BMO Capital Markets downgraded shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $214.00 to $210.00 in a report on Friday. Citigroup began coverage on Old Dominion Freight Line in a report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price on the stock. Evercore ISI dropped their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $200.56.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

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.