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

Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Free Report) Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded up $0.43 during trading on Tuesday, hitting $201.31. 1,733,396 shares of the company were exchanged, 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 market capitalization of $43.74 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $195.55 and its 200-day moving average is $190.13.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for 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 quarter in the previous year, the company posted $1.54 EPS. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their target price for the stock from $209.00 to $197.00 in a report on Monday, October 21st. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Barclays reduced their price target on Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Raymond James lifted their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $196.39.

Get Our Latest Stock Report on ODFL

Institutional Investors Weigh In On Old Dominion Freight Line

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

Old Dominion Freight Line Company Profile

(Get Free Report)

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.

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