Should You Invest Your Hard Earned Cash in Old Dominion Freight Lines (ODFL)?

ClearBridge Investments, an investment management firm, published its “Global Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Global Growth Strategy outperformed its MSCI ACWI benchmark. The Strategy delivered gains across eight of the nine sectors in which it was invested (out of 11 total), with the information technology (IT) and industrials sectors the primary contributors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Global Growth Strategy, in its Q4 2021 investor letter, mentioned Old Dominion Freight Line, Inc. (NASDAQ:ODFL) and discussed its stance on the firm. Founded in 1934, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is a Thomasville, North Carolina-based shipping company with a $34.3 billion market capitalization, and is currently spearheaded by its CEO, Greg C. Gantt. Old Dominion Freight Line, Inc. (NASDAQ:ODFL) delivered a -16.66% return since the beginning of the year, while its 12-month returns are up by 22.57%. The stock closed at $298.68 per share on March 31, 2022.

Here is what ClearBridge Investments Global Growth Strategy has to say about Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in its Q4 2021 investor letter:

“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft which continued to uniquely act both offensively and defensively as they have through most of the pandemic. These consistent growers were complemented by solid contributions from structural holdings including Old Dominion Freight Lines.”

Our calculations show that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was in 40 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 33 funds in the previous quarter. Old Dominion Freight Line, Inc. (NASDAQ:ODFL) delivered a -16.16% return in the past 3 months.

In July 2021, we also shared another hedge fund’s views on Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.