Old Dominion Freight Line, Inc. (NASDAQ:ODFL) to Issue Quarterly Dividend of $0.26

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.26 per share by the transportation company on Wednesday, December 18th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%.

Old Dominion Freight Line has increased its dividend payment by an average of 38.4% annually over the last three years. Old Dominion Freight Line has a payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old Dominion Freight Line to earn $6.41 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 16.2%.

Old Dominion Freight Line Stock Up 1.0 %

Shares of NASDAQ:ODFL opened at $203.49 on Thursday. The company has a market capitalization of $44.22 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 4.06 and a beta of 0.99. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. The business has a 50-day moving average price of $195.30 and a 200 day moving average price of $191.61. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.33 earnings per share. Sell-side analysts expect that Old Dominion Freight Line will post 5.6 EPS for the current year.

Analyst Ratings Changes

ODFL has been the topic of several research analyst reports. Citigroup assumed coverage on Old Dominion Freight Line in a report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price objective on the stock. TD Cowen reduced their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group dropped their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Finally, Stephens restated an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $200.83.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.