Kimelman & Baird LLC Sells 5,100 Shares of CSX Co. (NASDAQ:CSX)

Kimelman & Baird LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 63.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,000 shares of the transportation company’s stock after selling 5,100 shares during the period. Kimelman & Baird LLC’s holdings in CSX were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of CSX during the 2nd quarter worth about $26,000. Valley Wealth Managers Inc. grew its holdings in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the period. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter worth approximately $27,000. Morton Brown Family Wealth LLC bought a new stake in CSX in the third quarter valued at approximately $31,000. Finally, Fairscale Capital LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $32,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.5 %

Shares of NASDAQ:CSX opened at $34.45 on Friday. The business’s 50 day simple moving average is $34.84 and its 200 day simple moving average is $34.09. CSX Co. has a 1 year low of $31.74 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The company has a market capitalization of $66.43 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.24 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company decreased their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada decreased their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.