Old Dominion Freight Line (NASDAQ:ODFL) insider David S. Congdon sold 30,150 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $165.51, for a total transaction of $4,990,126.50. Following the completion of the sale, the insider now owns 13,385 shares in the company, valued at approximately $2,215,351.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of ODFL stock traded up $1.31 on Wednesday, hitting $165.53. The stock had a trading volume of 430,656 shares, compared to its average volume of 524,014. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $158.95 and a 200 day moving average price of $149.19. The company has a market cap of $13.26 billion, a PE ratio of 22.43, a P/E/G ratio of 2.38 and a beta of 1.49. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $171.87.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.05. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. Old Dominion Freight Line had a return on equity of 23.57% and a net margin of 15.48%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. Equities research analysts expect that Old Dominion Freight Line will post 7.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 0.41%. Old Dominion Freight Line’s dividend payout ratio is presently 9.21%.

Old Dominion Freight Line declared that its Board of Directors has approved a share buyback program on Thursday, May 16th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Several equities research analysts recently weighed in on the stock. Bank of America restated a “neutral” rating and issued a $150.00 price target (up previously from $144.00) on shares of Old Dominion Freight Line in a research report on Thursday, June 20th. Morgan Stanley set a $146.00 price target on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research report on Friday, August 9th. ValuEngine cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday. KeyCorp lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Mizuho reissued a “hold” rating and set a $151.00 target price on shares of Old Dominion Freight Line in a research note on Tuesday, July 2nd. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $152.08.

A number of institutional investors have recently made changes to their positions in the business. CWM LLC raised its holdings in Old Dominion Freight Line by 42.5% in the first quarter. CWM LLC now owns 258 shares of the transportation company’s stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Cordasco Financial Network raised its holdings in Old Dominion Freight Line by 77.2% in the second quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Old Dominion Freight Line by 0.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,000 shares of the transportation company’s stock worth $1,791,000 after purchasing an additional 80 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its holdings in Old Dominion Freight Line by 2.3% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,700 shares of the transportation company’s stock worth $534,000 after purchasing an additional 82 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in Old Dominion Freight Line by 0.5% in the second quarter. GHP Investment Advisors Inc. now owns 18,281 shares of the transportation company’s stock worth $2,729,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Old Dominion Freight Line

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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