Key Points
- Director Bradley Gabosch sold 3,134 ODFL shares on Feb. 18 at an average price of $194.27 for total proceeds of $608,842, cutting his holding by 21.75% to 11,278 shares (≈$2.19M).
- Old Dominion raised its quarterly dividend to $0.29 (annualized $1.16) with an ex-dividend date of March 4 and payment on March 18, implying about a 0.6% yield.
- The company reported Q earnings of $1.09 per share (beating estimates) while revenue fell 5.7% YoY; analysts are mixed, with a MarketBeat consensus rating of Hold and an average price target of ~$189.88.
Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) Director Bradley Gabosch sold 3,134 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the sale, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Old Dominion Freight Line Stock Performance
Shares of Old Dominion Freight Line stock traded up $1.32 during trading on Friday, hitting $196.49. The company's stock had a trading volume of 469,462 shares, compared to its average volume of 2,370,202. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $208.74. The company has a market capitalization of $41.09 billion, a PE ratio of 40.69, a P/E/G ratio of 9.67 and a beta of 1.28. The company has a fifty day simple moving average of $174.33 and a two-hundred day simple moving average of $153.91.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business's revenue was down 5.7% compared to the same quarter last year. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line's dividend payout ratio is presently 23.19%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ODFL shares. Robert W. Baird cut shares of Old Dominion Freight Line from a "neutral" rating to an "underperform" rating and lifted their target price for the stock from $166.00 to $204.00 in a report on Thursday, February 5th. BMO Capital Markets restated an "outperform" rating on shares of Old Dominion Freight Line in a report on Thursday. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Sunday, January 25th. Stifel Nicolaus set a $217.00 target price on Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating and set a $205.00 target price for the company. in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $189.88.
View Our Latest Report on Old Dominion Freight Line
Institutional Investors Weigh In On Old Dominion Freight Line
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company's stock valued at $3,273,546,000 after buying an additional 494,674 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company's stock worth $2,230,318,000 after purchasing an additional 1,761,511 shares during the last quarter. State Street Corp increased its position in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company's stock valued at $1,214,618,000 after purchasing an additional 70,736 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company's stock worth $614,764,000 after purchasing an additional 776,004 shares during the period. Finally, Boston Partners boosted its holdings in shares of Old Dominion Freight Line by 98.4% in the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company's stock worth $648,186,000 after buying an additional 2,044,434 shares during the last quarter. Institutional investors own 77.82% of the company's stock.
About Old Dominion Freight Line
(
Get Free Report)
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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