Old Dominion Freight Line, Inc. Announces Quarterly Dividend of $0.29 (NASDAQ:ODFL)

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of 0.29 per share by the transportation company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd.

Old Dominion Freight Line has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Old Dominion Freight Line has a payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Old Dominion Freight Line to earn $6.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 17.8%.

Old Dominion Freight Line Trading Down 0.9%

Old Dominion Freight Line stock opened at $230.71 on Friday. The business’s fifty day simple moving average is $224.89 and its two-hundred day simple moving average is $204.57. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a market capitalization of $47.98 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 4.20 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities research analysts predict that Old Dominion Freight Line will post 5.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.00% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors have recently made changes to their positions in ODFL. Brighton Jones LLC boosted its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 5,866 shares during the period. Marshall Wace LLP bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $7,478,000. Jump Financial LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $2,891,000. Finally, AXA S.A. boosted its stake in shares of Old Dominion Freight Line by 1.2% in the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after buying an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.