Insider Selling: Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Chairman Sells $1,951,700.00 in Stock

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $186.06 on Friday. The company has a market cap of $40.43 billion, a PE ratio of 32.76, a P/E/G ratio of 3.76 and a beta of 1.00. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The firm has a 50-day simple moving average of $193.92 and a 200 day simple moving average of $197.74. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock valued at $876,000 after purchasing an additional 395 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Old Dominion Freight Line by 98.3% during the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock valued at $22,127,000 after purchasing an additional 50,019 shares during the last quarter. Forsta AP Fonden grew its holdings in Old Dominion Freight Line by 65.0% in the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after buying an additional 15,600 shares in the last quarter. Sei Investments Co. grew its holdings in Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after buying an additional 21,438 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Old Dominion Freight Line by 162.9% in the 1st quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after buying an additional 4,554 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America increased their price target on Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. TD Cowen raised their price target on Old Dominion Freight Line from $206.00 to $214.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Morgan Stanley dropped their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Susquehanna cut their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Finally, Raymond James boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $201.33.

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.