Glassy Mountain Advisors Inc. Has $3.80 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Glassy Mountain Advisors Inc. grew its stake in CSX Co. (NASDAQ:CSX) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,129 shares of the transportation company’s stock after purchasing an additional 2,645 shares during the quarter. CSX comprises approximately 1.3% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 28th largest holding. Glassy Mountain Advisors Inc.’s holdings in CSX were worth $3,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSX. Norden Group LLC raised its position in shares of CSX by 137.9% in the 1st quarter. Norden Group LLC now owns 18,903 shares of the transportation company’s stock valued at $701,000 after acquiring an additional 10,956 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in CSX by 8.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 45,993 shares of the transportation company’s stock worth $1,705,000 after purchasing an additional 3,567 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of CSX by 52.6% during the first quarter. Fidelis Capital Partners LLC now owns 22,253 shares of the transportation company’s stock worth $825,000 after purchasing an additional 7,668 shares in the last quarter. Graypoint LLC grew its holdings in shares of CSX by 5.1% in the 1st quarter. Graypoint LLC now owns 11,570 shares of the transportation company’s stock valued at $429,000 after buying an additional 560 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of CSX by 15.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 371,114 shares of the transportation company’s stock valued at $13,757,000 after buying an additional 49,202 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Down 0.7 %

NASDAQ:CSX opened at $33.39 on Friday. CSX Co. has a twelve month low of $29.64 and a twelve month high of $40.12. The firm has a market capitalization of $64.39 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock’s 50 day moving average price is $34.01 and its two-hundred day moving average price is $33.79.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm 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%. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Equities research analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSX. BMO Capital Markets lowered their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Barclays lowered their target price on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.61.

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.