MetLife Investment Management LLC Sells 38,313 Shares of CSX Co. (NASDAQ:CSX)

MetLife Investment Management LLC lowered its position in shares of CSX Co. (NASDAQ:CSX) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 525,362 shares of the transportation company’s stock after selling 38,313 shares during the period. MetLife Investment Management LLC’s holdings in CSX were worth $17,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSX. Kalos Management Inc. purchased a new position in CSX during the first quarter valued at $25,000. Albion Financial Group UT purchased a new position in shares of CSX in the 2nd quarter worth about $26,000. Fortis Capital Advisors LLC purchased a new position in shares of CSX in the 4th quarter worth about $27,000. WFA of San Diego LLC purchased a new position in shares of CSX in the 2nd quarter worth about $29,000. Finally, Barrett & Company Inc. purchased a new position in shares of CSX in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

CSX Trading Down 0.2 %

Shares of NASDAQ:CSX opened at $32.00 on Tuesday. The stock has a 50 day moving average of $30.68 and a 200 day moving average of $31.59. The company has a market cap of $63.24 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.50. CSX Co. has a 12-month low of $27.60 and a 12-month high of $34.38.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. CSX had a return on equity of 31.28% and a net margin of 26.16%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue was down 8.3% on a year-over-year basis. As a group, equities research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.44 annualized dividend and a yield of 1.38%. CSX’s payout ratio is 23.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $37.00 price target on shares of CSX in a research report on Friday, October 20th. Argus lifted their price target on CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Barclays lowered their price target on CSX from $40.00 to $38.00 in a research report on Wednesday, October 4th. JPMorgan Chase & Co. raised CSX from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $37.00 to $40.00 in a research report on Wednesday, October 11th. Finally, Bank of America boosted their target price on CSX from $36.00 to $38.00 in a research report on Friday, September 29th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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 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.