Hanson & Doremus Investment Management Raises Stock Position in CSX Corporation (NASDAQ:CSX)

Hanson & Doremus Investment Management increased its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 254.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,080 shares of the transportation company's stock after acquiring an additional 18,731 shares during the quarter. Hanson & Doremus Investment Management's holdings in CSX were worth $768,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of CSX during the fourth quarter valued at about $780,194,000. Ameriprise Financial Inc. boosted its stake in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after purchasing an additional 9,863,587 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock worth $217,808,000 after purchasing an additional 5,568,624 shares during the last quarter. Finally, Fiduciary Management Inc. WI bought a new position in shares of CSX in the fourth quarter valued at approximately $178,259,000. Institutional investors own 73.57% of the company's stock.

CSX Stock Down 1.4%

NASDAQ:CSX traded down $0.44 during mid-day trading on Tuesday, hitting $32.12. 12,950,747 shares of the company's stock were exchanged, compared to its average volume of 13,238,523. The business has a fifty day moving average price of $29.85 and a 200 day moving average price of $31.17. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The company has a market cap of $60.34 billion, a PE ratio of 19.04, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. Equities analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is 31.14%.

Analyst Ratings Changes

CSX has been the subject of a number of analyst reports. Bank of America increased their price target on CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Susquehanna reduced their price objective on shares of CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Stifel Nicolaus cut their target price on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average target price of $34.14.

CSX Company 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.