TCW Group Inc. Makes New Investment in CSX Co. (NASDAQ:CSX)

TCW Group Inc. purchased a new position in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 56,049 shares of the transportation company’s stock, valued at approximately $1,947,000.

Other hedge funds have also bought and sold shares of the company. High Net Worth Advisory Group LLC lifted its position in shares of CSX by 1.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after purchasing an additional 304 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares during the period. Cornercap Investment Counsel Inc. lifted its position in shares of CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the period. FCA Corp TX lifted its position in CSX by 0.3% during the fourth quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after acquiring an additional 339 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in CSX by 2.0% during the third quarter. Parkside Financial Bank & Trust now owns 17,967 shares of the transportation company’s stock valued at $552,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.28 during midday trading on Friday, hitting $33.78. The company’s stock had a trading volume of 8,854,602 shares, compared to its average volume of 10,757,137. The business’s 50 day simple moving average is $35.03 and its 200 day simple moving average is $34.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The company has a market cap of $66.04 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Susquehanna increased their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Jefferies Financial Group cut their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Finally, UBS Group cut their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.