CSX Sees Unusually High Options Volume (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 21,889 call options on the company. This represents an increase of 225% compared to the average daily volume of 6,726 call options.

Insiders Place Their Bets

In related news, CEO Stephen F. Angel acquired 25,000 shares of the stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the acquisition, the chief executive officer owned 146,540 shares in the company, valued at approximately $5,901,165.80. The trade was a 20.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the transaction, the chief accounting officer directly owned 165,613 shares in the company, valued at $6,882,876.28. The trade was a 35.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 188,123 shares of company stock valued at $7,454,854 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On CSX

Large investors have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC acquired a new stake in shares of CSX during the 3rd quarter worth about $2,199,000. Rathbones Group PLC boosted its position in CSX by 20.6% in the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after buying an additional 35,403 shares in the last quarter. Canada Post Corp Registered Pension Plan boosted its position in CSX by 131.0% in the third quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock valued at $2,577,000 after buying an additional 40,780 shares in the last quarter. Allstate Corp bought a new stake in CSX during the third quarter worth about $2,363,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of CSX by 81.9% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after buying an additional 425,395 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX traded up $0.80 during trading hours on Wednesday, hitting $39.67. 7,828,682 shares of the company traded hands, compared to its average volume of 13,795,047. The stock has a market capitalization of $73.76 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.99 and a beta of 1.27. CSX has a twelve month low of $26.22 and a twelve month high of $43.35. The firm has a 50-day moving average of $39.67 and a 200 day moving average of $36.86. 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 company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts forecast that CSX will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a boost from CSX’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 27th. CSX’s dividend payout ratio (DPR) is 36.36%.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 price target (down from $37.00) on shares of CSX in a report on Friday, January 23rd. Raymond James Financial upped their price objective on shares of CSX from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Jefferies Financial Group raised their target price on shares of CSX from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Citigroup cut their target price on shares of CSX from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Eighteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.48.

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.