Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Director Sells $1,400,490.00 in Stock

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Old Dominion Freight Line Stock Up 0.2 %

Shares of Old Dominion Freight Line stock traded up $0.43 on Tuesday, hitting $201.31. The company had a trading volume of 1,733,396 shares, compared to its average volume of 1,554,478. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. The stock has a 50 day moving average of $195.55 and a 200-day moving average of $190.13. The stock has a market capitalization of $43.74 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 4.23 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. 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’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its position in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after buying an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Conning Inc. boosted its position in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after purchasing an additional 64 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Old Dominion Freight Line by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after purchasing an additional 66 shares during the last quarter. Finally, Quent Capital LLC grew its stake in Old Dominion Freight Line by 5.5% in the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after purchasing an additional 67 shares during the period. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Bank of America decreased their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Finally, Susquehanna reduced their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $196.39.

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.