Twin Tree Management LP Purchases Shares of 15,072 CSX Corporation $CSX

Twin Tree Management LP purchased a new stake in CSX Corporation (NASDAQ:CSX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,072 shares of the transportation company’s stock, valued at approximately $716,000.

Several other large investors also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX during the second quarter worth $27,000. WFA of San Diego LLC bought a new stake in CSX in the 2nd quarter valued at $28,000. Arlington Trust Co LLC boosted its stake in CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Wilkerson Advisory Group LLC boosted its stake in CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after purchasing an additional 409 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in CSX during the 2nd quarter worth about $34,000. Institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling

In other CSX news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 189,708 shares of company stock worth $9,132,304. Insiders own 0.30% of the company’s stock.

CSX Stock Up 1.2%

CSX stock opened at $51.59 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a fifty day simple moving average of $49.38 and a 200 day simple moving average of $45.15. The company has a market cap of $95.57 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts anticipate that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX’s payout ratio is currently 32.37%.

Analyst Ratings Changes

CSX has been the topic of several recent research reports. Rothschild & Co Redburn lifted their price target on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen cut CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Benchmark reiterated a “buy” rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.