Fifth Third Bancorp Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fifth Third Bancorp increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,564 shares of the transportation company’s stock after buying an additional 181 shares during the period. Fifth Third Bancorp’s holdings in Old Dominion Freight Line were worth $1,511,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in Old Dominion Freight Line by 163.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,466 shares of the transportation company’s stock worth $789,000 after acquiring an additional 2,774 shares during the last quarter. Creative Planning lifted its holdings in Old Dominion Freight Line by 3.2% during the second quarter. Creative Planning now owns 65,269 shares of the transportation company’s stock valued at $11,526,000 after purchasing an additional 2,050 shares during the last quarter. Quarry LP bought a new position in Old Dominion Freight Line during the second quarter worth about $60,000. Regal Investment Advisors LLC increased its stake in shares of Old Dominion Freight Line by 0.8% in the second quarter. Regal Investment Advisors LLC now owns 10,611 shares of the transportation company’s stock worth $1,874,000 after purchasing an additional 87 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.4 %

NASDAQ ODFL opened at $189.99 on Wednesday. The stock’s 50-day simple moving average is $195.44 and its two-hundred day simple moving average is $198.18. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $40.56 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 5.03 and a beta of 1.05.

Wall Street Analyst Weigh In

ODFL has been the subject of several analyst reports. BMO Capital Markets cut their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. TD Cowen reduced their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $202.44.

Insider Activity

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.90% of the company’s stock.

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.