CSX Corporation (CSX) to Issue Quarterly Dividend of $0.14 on March 13th

CSX Corporation (NASDAQ:CSX) announced a quarterly dividend on Thursday, February 26th. Stockholders of record on Friday, February 27th will be given a dividend of 0.14 per share by the transportation company on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, February 27th. This is a 7.7% increase from CSX’s previous quarterly dividend of $0.13.

CSX has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 21 consecutive years. CSX has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CSX to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 24.9%.

CSX Price Performance

NASDAQ:CSX opened at $42.69 on Friday. The stock has a market capitalization of $79.38 billion, a PE ratio of 27.72, a P/E/G ratio of 2.18 and a beta of 1.30. CSX has a 1-year low of $26.22 and a 1-year high of $42.81. The firm has a fifty day simple moving average of $38.26 and a 200 day simple moving average of $36.10. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. On average, research analysts expect that CSX will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other CSX news, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This represents a 35.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the transaction, the executive vice president owned 82,034 shares in the company, valued at $3,170,614.10. The trade was a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 188,123 shares of company stock worth $7,454,854. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter valued at $25,000. FNY Investment Advisers LLC increased its position in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after purchasing an additional 586 shares during the period. WFA of San Diego LLC acquired a new position in CSX in the second quarter valued at about $28,000. Pinnacle Bancorp Inc. lifted its position in CSX by 121.5% during the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after purchasing an additional 729 shares during the period. Finally, CrossGen Wealth LLC bought a new stake in CSX during the fourth quarter worth about $54,000. Institutional investors own 73.57% of the company’s stock.

About CSX

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.