Old Dominion Freight Line (NASDAQ:ODFL) SVP Sells $3,958,277.28 in Stock

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) SVP Cecil Jr. Overbey sold 19,952 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Old Dominion Freight Line Stock Up 0.5%

Shares of ODFL traded up $1.09 on Wednesday, hitting $199.43. 1,218,660 shares of the stock traded hands, compared to its average volume of 2,032,303. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The stock’s 50 day moving average is $218.82 and its two-hundred day moving average is $210.64. The firm has a market capitalization of $41.35 billion, a P/E ratio of 38.43, a P/E/G ratio of 3.50 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. Old Dominion Freight Line’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC boosted its holdings in Old Dominion Freight Line by 9.9% during the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 46 shares during the period. Private Advisor Group LLC increased its stake in Old Dominion Freight Line by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after purchasing an additional 55 shares during the period. Keybank National Association OH lifted its position in Old Dominion Freight Line by 2.3% in the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Old Dominion Freight Line by 9.7% in the fourth 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 last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 1.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 60 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reiterated a “neutral” rating and issued a $231.00 price objective (up from $228.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Rothschild & Co Redburn lowered their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Barclays boosted their price target on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. Finally, Evercore reissued an “outperform” rating and issued a $243.00 price target on shares of Old Dominion Freight Line in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $226.55.

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.