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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock is set to split on Thursday, March 28th. The 2-1 split was announced on Friday, February 16th. The newly minted shares will be issued to shareholders after the market closes on Wednesday, March 27th.

Old Dominion Freight Line Price Performance

ODFL opened at $435.03 on Tuesday. The stock has a market cap of $47.35 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 3.11 and a beta of 1.03. Old Dominion Freight Line has a 1 year low of $295.80 and a 1 year high of $452.34. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $421.23 and a 200 day moving average price of $406.49.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, January 31st. The transportation company reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.08. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.92 earnings per share. Analysts forecast that Old Dominion Freight Line will post 12.79 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.52 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $2.08 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.47%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James reduced their price target on Old Dominion Freight Line from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, December 11th. Susquehanna boosted their price target on Old Dominion Freight Line from $465.00 to $515.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. The Goldman Sachs Group boosted their price target on Old Dominion Freight Line from $400.00 to $444.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Stifel Nicolaus boosted their price target on Old Dominion Freight Line from $416.00 to $434.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. assumed coverage on Old Dominion Freight Line in a research report on Monday, March 11th. They issued a “neutral” rating and a $465.00 price target for the company. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $423.19.

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 Old Dominion Freight Line stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $442.15, for a total transaction of $3,524,819.80. Following the sale, the director now directly owns 6,770 shares of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ODFL. Epoch Investment Partners Inc. lifted its holdings in Old Dominion Freight Line by 4.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 94,001 shares of the transportation company’s stock worth $34,757,000 after buying an additional 4,382 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Old Dominion Freight Line by 0.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock worth $9,528,000 after buying an additional 92 shares in the last quarter. LVW Advisors LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter worth $400,000. Zurich Insurance Group Ltd FI acquired a new position in Old Dominion Freight Line during the 2nd quarter worth $45,343,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Old Dominion Freight Line by 14.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock worth $7,371,000 after buying an additional 2,335 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.