Old Dominion Freight Line, Inc. (ODFL) To Go Ex-Dividend on May 31st

Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Wednesday, June 1st will be paid a dividend of 0.30 per share by the transportation company on Wednesday, June 15th. This represents a $1.20 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Tuesday, May 31st.

Old Dominion Freight Line has raised its dividend payment by an average of 32.2% per year over the last three years and has increased its dividend every year for the last 2 years. Old Dominion Freight Line has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Old Dominion Freight Line to earn $12.04 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.0%.

ODFL opened at $264.14 on Friday. The firm has a 50-day simple moving average of $276.34 and a two-hundred day simple moving average of $309.90. Old Dominion Freight Line has a 52 week low of $231.31 and a 52 week high of $373.58. The company has a market capitalization of $29.94 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.03.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The transportation company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.37 by $0.23. Old Dominion Freight Line had a net margin of 20.17% and a return on equity of 32.41%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The business’s revenue was up 32.9% on a year-over-year basis. As a group, sell-side analysts expect that Old Dominion Freight Line will post 11.43 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Belpointe Asset Management LLC increased its position in shares of Old Dominion Freight Line by 4.4% during the fourth quarter. Belpointe Asset Management LLC now owns 1,138 shares of the transportation company’s stock worth $407,000 after acquiring an additional 48 shares during the period. Cibc World Market Inc. increased its position in shares of Old Dominion Freight Line by 2.8% during the first quarter. Cibc World Market Inc. now owns 1,846 shares of the transportation company’s stock worth $551,000 after acquiring an additional 50 shares during the period. Brinker Capital Investments LLC increased its holdings in Old Dominion Freight Line by 0.3% during the first quarter. Brinker Capital Investments LLC now owns 19,171 shares of the transportation company’s stock valued at $5,726,000 after buying an additional 60 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in Old Dominion Freight Line by 56.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company’s stock valued at $52,000 after buying an additional 63 shares during the period. Finally, Next Century Growth Investors LLC increased its holdings in Old Dominion Freight Line by 0.8% during the first quarter. Next Century Growth Investors LLC now owns 9,118 shares of the transportation company’s stock valued at $2,723,000 after buying an additional 69 shares during the period. 77.86% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $324.00 price target for the company in a report on Monday, March 14th. UBS Group lowered their price target on shares of Old Dominion Freight Line from $365.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, February 3rd. Cowen increased their price target on shares of Old Dominion Freight Line from $213.00 to $232.00 in a report on Thursday, April 28th. Susquehanna Bancshares increased their price target on shares of Old Dominion Freight Line from $275.00 to $285.00 in a report on Thursday, April 28th. Finally, Cowen increased their price target on shares of Old Dominion Freight Line from $213.00 to $232.00 in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $299.17.

Old Dominion Freight Line Company Profile (Get Rating)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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