Old Dominion Freight Line, Inc. (ODFL) Plans $0.10 Quarterly Dividend

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Monday, October 30th, RTT News reports. Stockholders of record on Wednesday, December 6th will be given a dividend of 0.10 per share by the transportation company on Wednesday, December 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%.

Shares of Old Dominion Freight Line (ODFL) traded down 2.61% during trading on Monday, reaching $120.61. 708,600 shares of the company traded hands. The company has a 50-day moving average of $107.72 and a 200-day moving average of $96.51. Old Dominion Freight Line has a 12 month low of $72.99 and a 12 month high of $124.13. The stock has a market capitalization of $9.94 billion, a PE ratio of 31.24 and a beta of 1.09.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The firm had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line will post $4.21 earnings per share for the current fiscal year.

ODFL has been the subject of several recent research reports. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, July 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 price objective (up previously from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating and issued a $91.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, July 14th. BidaskClub upgraded Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Finally, Deutsche Bank AG downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the company from $108.00 to $98.00 in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $108.23.

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In related news, Vice Chairman David S. Congdon sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the transaction, the insider now owns 9,516 shares in the company, valued at $930,950.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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