Hendley & Co. Inc. Trims Position in CSX Co. (NASDAQ:CSX)

Hendley & Co. Inc. trimmed its position in CSX Co. (NASDAQ:CSX) by 21.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 11,235 shares of the transportation company’s stock after selling 3,075 shares during the period. Hendley & Co. Inc.’s holdings in CSX were worth $376,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of CSX by 3,241.9% in the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after purchasing an additional 228,263 shares during the period. Cerity Partners LLC lifted its holdings in shares of CSX by 22.6% in the 4th quarter. Cerity Partners LLC now owns 220,724 shares of the transportation company’s stock valued at $7,652,000 after acquiring an additional 40,624 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of CSX in the 4th quarter valued at approximately $139,000. Graypoint LLC boosted its stake in CSX by 12.3% during the fourth quarter. Graypoint LLC now owns 11,010 shares of the transportation company’s stock worth $382,000 after buying an additional 1,206 shares during the period. Finally, Simplicity Solutions LLC boosted its stake in shares of CSX by 31.1% during the 4th quarter. Simplicity Solutions LLC now owns 90,050 shares of the transportation company’s stock worth $3,122,000 after purchasing an additional 21,384 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Up 0.4 %

NASDAQ CSX traded up $0.14 during trading on Wednesday, hitting $33.36. The company’s stock had a trading volume of 12,255,335 shares, compared to its average volume of 11,819,792. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a market cap of $65.22 billion, a PE ratio of 18.30, a P/E/G ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The business’s 50 day simple moving average is $33.60 and its 200-day simple moving average is $34.99.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the business earned $0.49 EPS. CSX’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

Several brokerages have commented on CSX. Susquehanna upped their price objective on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research report on Wednesday, August 7th. UBS Group lowered their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.