Fortitude Advisory Group L.L.C. Boosts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fortitude Advisory Group L.L.C. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,478 shares of the transportation company’s stock after buying an additional 207 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Old Dominion Freight Line were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after buying an additional 279,946 shares during the period. Geode Capital Management LLC lifted its holdings in Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after acquiring an additional 275,236 shares during the period. Wellington Management Group LLP lifted its holdings in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after acquiring an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after purchasing an additional 78,587 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Price Performance

ODFL stock opened at $194.71 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week 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 stock has a market cap of $41.57 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. The business has a fifty day moving average of $195.87 and a two-hundred day moving average of $198.18.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus increased their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. BMO Capital Markets cut their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $202.44.

Old Dominion Freight Line Company Profile

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.