David S. Congdon Sells 10,000 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) 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 completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a filing with the SEC, which is available through this link.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $186.06 on Friday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The stock has a fifty day moving average of $193.92 and a 200-day moving average of $197.74. The company has a market capitalization of $40.43 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in Old Dominion Freight Line by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 27 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Old Dominion Freight Line by 1.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after acquiring an additional 30 shares in the last quarter. Partners Capital Investment Group LLP increased its stake in shares of Old Dominion Freight Line by 6.1% in the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock worth $283,000 after acquiring an additional 40 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Metis Global Partners LLC now owns 5,191 shares of the transportation company’s stock worth $2,104,000 after acquiring an additional 47 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in Old Dominion Freight Line by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock valued at $1,858,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent analyst reports. Barclays decreased their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. TD Cowen increased their price target on Old Dominion Freight Line from $206.00 to $214.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday. BMO Capital Markets increased their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley decreased their price target on 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six 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 an average rating of “Hold” and an average price target of $201.33.

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.