Old Dominion Freight Line (NASDAQ:ODFL) Director Bradley Gabosch Sells 3,134 Shares

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Director Bradley Gabosch sold 3,134 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the transaction, the director directly owned 11,278 shares of the company’s stock, valued at $2,190,977.06. The trade was a 21.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Old Dominion Freight Line Stock Performance

ODFL traded up $1.32 on Friday, reaching $196.49. The company 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 cap of $41.09 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 9.67 and a beta of 1.28. The business has a 50 day simple moving average of $174.33 and a 200 day simple moving average of $153.91.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 23.19%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in ODFL. Deseret Mutual Benefit Administrators increased its position in Old Dominion Freight Line by 9.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 57 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Old Dominion Freight Line by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after buying an additional 60 shares during the period. Diversified Trust Co. boosted its position in Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after acquiring an additional 65 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after acquiring an additional 67 shares during the period. Finally, YANKCOM Partnership raised its position in shares of Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after acquiring an additional 68 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $209.00 price objective (up from $190.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 4th. Raymond James Financial lifted their price target on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $150.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Wells Fargo & Company lifted their target price on shares of Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. Finally, Robert W. Baird cut Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $166.00 to $204.00 in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $189.88.

Old Dominion Freight Line Company Profile

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.