Jolley Asset Management buys $4,082,067 stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Jolley Asset Management scooped up 116,331 additional shares in CSX Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 21, 2016. The investment management firm now holds a total of 143,331 shares of CSX Corporation which is valued at $4,082,067.CSX Corporation makes up approximately 3.15% of Jolley Asset Management’s portfolio.

Other Hedge Funds, Including , Sphinx Trading Lp reduced its stake in CSX by selling 6,961 shares or 68.55% in the most recent quarter. The Hedge Fund company now holds 3,194 shares of CSX which is valued at $90,965. CSX Corporation makes up approx 0.73% of Sphinx Trading Lp’s portfolio.Fisher Asset Management boosted its stake in CSX in the latest quarter, The investment management firm added 112 additional shares and now holds a total of 10,304 shares of CSX Corporation which is valued at $290,676.Gateway Investment Advisers reduced its stake in CSX by selling 1,572 shares or 0.13% in the most recent quarter. The Hedge Fund company now holds 1,231,153 shares of CSX which is valued at $34,730,826. CSX Corporation makes up approx 0.29% of Gateway Investment Advisers’s portfolio.

CSX Corporation opened for trading at $28.13 and hit $28.52 on the upside on Thursday, eventually ending the session at $28.35, with a gain of 0.50% or 0.14 points. The heightened volatility saw the trading volume jump to 47,39,806 shares. Company has a market cap of $26,819 M.

On the company’s financial health, CSX Corporation reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 13, 2016. Analyst had a consensus of $0.44. The company had revenue of $2670.00 million for the quarter, compared to analysts expectations of $2686.99 million. The company’s revenue was down -12.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Jul 13, 2016, CSX Corporation announced a cash dividend of $0.1800. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on CSX Corporation. CSX Corporation was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 15, 2016. Company shares were Reiterated by Cowen on Jul 15, 2016 to “Market Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .CSX Corporation was Downgraded by Stifel to ” Hold” on Jul 15, 2016.

CSX Corporation (CSX) together with its subsidiaries is a transportation company. The Company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The Company has three lines of business: merchandise business coal business and the intermodal business. The Company’s merchandise business transports aggregates (which include crushed stone sand and gravel) metal phosphate fertilizer food consumer (manufactured goods and appliances) agricultural automotive paper and chemical products. Its coal business transports domestic coal coke and iron ore to electricity-generating power plants steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Through a network of around 50 terminals the intermodal business serves markets east of the Mississippi and transports manufactured consumer goods in containers providing truck-like services for longer shipments.

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