Entropy Technologies LP Makes New $6.63 Million Investment in CSX Corporation (NASDAQ:CSX)

Key Points

• Entropy Technologies LP has acquired a stake in CSX Corporation, purchasing 225,397 shares valued at approximately $6.63 million, making CSX the 25th largest holding in their investment portfolio.
• Several institutional investors have recently made significant changes to their positions in CSX, including Ameriprise Financial Inc., which increased its stake by 89.7%, now holding over 20 million shares.
• CSX declared a quarterly dividend of $0.13 per share, with a dividend yield of 1.5%, and has a current consensus price target of $37.00 from analysts, indicating a moderately bullish outlook.

Entropy Technologies LP acquired a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 225,397 shares of the transportation company's stock, valued at approximately $6,633,000. CSX accounts for approximately 0.6% of Entropy Technologies LP's investment portfolio, making the stock its 25th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX during the fourth quarter valued at approximately $27,000. Rossby Financial LCC purchased a new position in CSX during the 1st quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX during the 4th quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX in the 1st quarter valued at $30,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ CSX traded up $0.03 during trading on Thursday, reaching $36.11. The company's stock had a trading volume of 13,226,162 shares, compared to its average volume of 16,012,734. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $67.31 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The firm has a 50 day moving average price of $33.81 and a 200 day moving average price of $31.53.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. As a group, equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. CSX's dividend payout ratio is 32.10%.

Analysts Set New Price Targets

CSX has been the subject of a number of research analyst reports. Evercore ISI cut their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Raymond James Financial increased their price target on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Citigroup increased their target price on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Sanford C. Bernstein restated a "market perform" rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

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.