Old Dominion Freight Line, Inc. Announces Quarterly Dividend of $0.26 (NASDAQ:ODFL)

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced a quarterly dividend on Thursday, October 17th,RTT News reports. Investors of record on Wednesday, December 4th will be given a dividend of 0.26 per share by the transportation company on Wednesday, December 18th. This represents a $1.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th.

Old Dominion Freight Line has increased its dividend payment by an average of 38.4% annually over the last three years. Old Dominion Freight Line has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Old Dominion Freight Line to earn $5.94 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 17.5%.

Old Dominion Freight Line Stock Up 0.5 %

Old Dominion Freight Line stock opened at $225.14 on Monday. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm’s 50-day simple moving average is $206.69 and its 200 day simple moving average is $193.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $48.07 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.54 earnings per share. Research analysts predict that Old Dominion Freight Line will post 5.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.41.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

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.