CSX Corporation (CSX) To Go Ex-Dividend on August 31st

CSX Corporation (NASDAQ:CSX) announced a quarterly dividend on Friday, July 17th. Shareholders of record on Monday, August 31st will be given a dividend of 0.14 per share by the transportation company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st.

CSX has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 21 years. CSX has a dividend payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CSX to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 25.1%.

CSX Stock Performance

Shares of CSX stock opened at $51.28 on Friday. CSX has a 12 month low of $31.80 and a 12 month high of $53.60. The stock has a market cap of $94.99 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The company’s fifty day moving average price is $49.91 and its 200-day moving average price is $45.57.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business earned $0.44 EPS. CSX’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that CSX will post 2 EPS for the current fiscal year.

Insider Activity

In other news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the sale, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This trade represents a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 189,708 shares of company stock worth $9,132,304. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CSX. Evolve Private Wealth LLC bought a new stake in CSX in the 2nd quarter worth approximately $693,000. Canada Post Corp Registered Pension Plan boosted its stake in shares of CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after buying an additional 24,566 shares during the last quarter. M. Kulyk & Associates LLC bought a new stake in shares of CSX in the second quarter worth $8,145,000. Wealthfront Advisers LLC bought a new stake in shares of CSX in the second quarter worth $7,609,000. Finally, First National Bank of Omaha purchased a new stake in CSX during the second quarter valued at $6,248,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.