First Financial Bank Trust Division Sells 2,170 Shares of CSX Co. (NASDAQ:CSX)

First Financial Bank Trust Division decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 22.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,458 shares of the transportation company’s stock after selling 2,170 shares during the period. First Financial Bank Trust Division’s holdings in CSX were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Oak Thistle LLC purchased a new stake in CSX during the fourth quarter valued at approximately $285,000. Trust Point Inc. purchased a new stake in shares of CSX in the fourth quarter worth $655,000. Clear Creek Financial Management LLC increased its stake in shares of CSX by 39.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 10,659 shares of the transportation company’s stock worth $370,000 after purchasing an additional 3,013 shares in the last quarter. Private Trust Co. NA increased its stake in shares of CSX by 2.4% in the fourth quarter. Private Trust Co. NA now owns 31,785 shares of the transportation company’s stock worth $1,102,000 after purchasing an additional 738 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake 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 in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSX. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Wells Fargo & Company began coverage on shares of CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Royal Bank of Canada reduced their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group dropped their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, Benchmark restated a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

CSX Price Performance

CSX stock traded down $1.08 during trading on Monday, hitting $33.00. 18,630,886 shares of the company’s stock traded hands, compared to its average volume of 11,834,943. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. 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 business has a fifty day simple moving average of $33.56 and a 200 day simple moving average of $35.05. The stock has a market capitalization of $64.51 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the business earned $0.49 earnings per share. CSX’s quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts expect that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX Profile

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.