Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded down 1.50% during trading on Thursday, hitting $95.43. The stock had a trading volume of 364,365 shares. Old Dominion Freight Line, Inc. has a 12-month low of $66.33 and a 12-month high of $103.51. The firm has a market cap of $7.86 billion, a P/E ratio of 24.72 and a beta of 1.08. The stock’s 50 day moving average price is $97.20 and its 200 day moving average price is $90.70.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post $4.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.39%.

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A number of equities analysts have issued reports on ODFL shares. Cowen and Company increased their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Zacks Investment Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $109.00 price target (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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $97.67.

Large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Old Dominion Freight Line by 11,389.2% in the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after buying an additional 5,353,843 shares during the period. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 1.0% in the second quarter. Vanguard Group Inc. now owns 5,372,428 shares of the transportation company’s stock valued at $511,669,000 after buying an additional 54,645 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $266,855,000. Janus Capital Management LLC raised its stake in shares of Old Dominion Freight Line by 1.0% in the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock valued at $238,725,000 after buying an additional 27,397 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after buying an additional 191,911 shares during the period. 75.07% of the stock is currently owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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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