Old Dominion Freight Line Stock Scheduled to Split on Thursday, March 28th (NASDAQ:ODFL)

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) are set to split before the market opens on Thursday, March 28th. The 2-1 split was announced on Friday, February 16th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, March 27th.

Old Dominion Freight Line Stock Down 1.3 %

ODFL opened at $421.11 on Friday. Old Dominion Freight Line has a 12 month low of $295.80 and a 12 month high of $452.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market cap of $45.83 billion, a P/E ratio of 37.40, a P/E/G ratio of 3.05 and a beta of 1.03. The stock’s 50 day moving average price is $415.34 and its 200 day moving average price is $406.64.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last posted its earnings results on Wednesday, January 31st. The transportation company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.86 by $0.08. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $2.92 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, research analysts predict that Old Dominion Freight Line will post 12.81 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a $0.52 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.47%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Old Dominion Freight Line in a report on Monday, March 11th. They issued a “neutral” rating and a $465.00 target price on the stock. The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $400.00 to $444.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $475.00 to $386.00 in a report on Monday, November 27th. Stifel Nicolaus upped their target price on shares of Old Dominion Freight Line from $416.00 to $434.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Susquehanna increased their target price on Old Dominion Freight Line from $465.00 to $515.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $423.19.

View Our Latest Stock Report on Old Dominion Freight Line

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 7,972 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $442.15, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now owns 6,770 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $27,000. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $29,000. Headinvest LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $34,000. 72.14% of the stock is owned by hedge funds and other institutional investors.

About Old Dominion Freight Line

(Get Free Report)

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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