CSX Sees Unusually High Options Volume (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) was the target of unusually large options trading activity on Wednesday. Traders bought 21,909 put options on the stock. This represents an increase of 232% compared to the typical volume of 6,596 put options.

Insider Activity

In other news, CEO Stephen F. Angel bought 25,000 shares of CSX stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the purchase, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. The trade was a 20.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction dated 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 sale, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 188,123 shares of company stock valued at $7,454,854 over the last ninety days. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of the company. Syon Capital LLC grew its position in shares of CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after acquiring an additional 287 shares during the period. Root Financial Partners LLC raised its holdings in CSX by 7.3% in the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the period. Kingswood Wealth Advisors LLC boosted its position in CSX by 4.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock worth $296,000 after purchasing an additional 331 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in CSX by 2.7% during the third quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock worth $463,000 after purchasing an additional 339 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC grew its holdings in CSX by 2.7% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 346 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSX. Bank of America reduced their price objective on CSX from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. JPMorgan Chase & Co. dropped their target price on CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Citigroup reduced their price target 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. Argus upped their price objective on shares of CSX from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Morgan Stanley set a $30.00 target price on shares of CSX and gave the stock an “equal weight” rating in a report on Monday, December 8th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.48.

CSX Trading Down 2.9%

CSX stock opened at $38.49 on Friday. The firm has a market cap of $71.57 billion, a PE ratio of 24.99, a P/E/G ratio of 2.03 and a beta of 1.27. CSX has a 12 month low of $26.22 and a 12 month high of $43.35. The stock’s 50 day simple moving average is $39.47 and its two-hundred day simple moving average is $36.66. 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 earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm earned $0.42 earnings per share. CSX’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts anticipate that CSX will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. CSX’s dividend payout ratio is presently 36.36%.

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.