Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Increases Dividend to $0.28 Per Share

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Wednesday, March 5th will be given a dividend of 0.28 per share by the transportation company on Wednesday, March 19th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26.

Old Dominion Freight Line has increased its dividend by an average of 37.5% per year over the last three years. Old Dominion Freight Line has a dividend payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Old Dominion Freight Line to earn $5.76 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 18.1%.

Old Dominion Freight Line Stock Up 5.4 %

ODFL opened at $193.65 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $191.21 and a 200-day simple moving average of $197.70. The stock has a market capitalization of $41.34 billion, a P/E ratio of 33.85, a P/E/G ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. On average, equities analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Insider Activity 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 dated Friday, November 8th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays dropped their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus raised their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $202.44.

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.