CSX Corporation Plans Quarterly Dividend of $0.14 (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) declared a quarterly dividend on Tuesday, May 12th. Investors of record on Friday, May 29th will be given a dividend of 0.14 per share by the transportation company on Monday, June 15th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, May 29th.

CSX has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 21 consecutive years. CSX has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 26.3%.

CSX Trading Down 0.4%

CSX traded down $0.18 during mid-day trading on Wednesday, hitting $44.36. 4,914,300 shares of the stock were exchanged, compared to its average volume of 13,394,436. The firm’s fifty day moving average is $42.05 and its two-hundred day moving average is $38.80. CSX has a 1-year low of $30.17 and a 1-year high of $46.55. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The company has a market cap of $82.42 billion, a PE ratio of 27.21, a PEG ratio of 2.33 and a beta of 1.24.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $0.34 EPS. CSX’s revenue was up 1.7% on a year-over-year basis. Equities analysts forecast that CSX will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at CSX

In other news, CAO Diana B. Sorfleet sold 90,000 shares of the 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 transaction, the chief accounting officer owned 165,613 shares in the company, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen F. Angel acquired 25,000 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was acquired at an average price of $40.27 per share, for a total transaction 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 SEC filing for this purchase provides additional information. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC grew its stake in CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after buying an additional 409 shares during the last quarter. Resolute Wealth Strategies LLC grew its stake in CSX by 15.0% during the 1st quarter. Resolute Wealth Strategies LLC now owns 7,425 shares of the transportation company’s stock worth $305,000 after buying an additional 970 shares during the last quarter. S&CO Inc. purchased a new position in CSX during the 1st quarter worth approximately $221,000. Valley Wealth Managers Inc. grew its stake in CSX by 120.0% during the 1st quarter. Valley Wealth Managers Inc. now owns 1,650 shares of the transportation company’s stock worth $68,000 after buying an additional 900 shares during the last quarter. Finally, Stronghold Wealth Management L.L.C. purchased a new position in CSX during the 1st quarter worth approximately $204,000. Hedge funds and other 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.