Mpam Credit Trading Partners Exits Position in CSX Corporation (CSX)

CSX Corporation (CSX) : Mpam Credit Trading Partners has sold out all of its stake in CSX Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 85,000 shares of CSX Corporation which is valued at $2,385,100.

Other Hedge Funds, Including , United Capital Financial Advisers reduced its stake in CSX by selling 812 shares or 2.51% in the most recent quarter. The Hedge Fund company now holds 31,478 shares of CSX which is valued at $883,273. CSX Corporation makes up approx 0.01% of United Capital Financial Advisers’s portfolio. Omers Administration Corp added CSX to its portfolio by purchasing 5,081,200 company shares during the most recent quarter which is valued at $142,578,472. CSX Corporation makes up approx 2.90% of Omers Administration Corp’s portfolio.Heritage Wealth Advisors boosted its stake in CSX in the latest quarter, The investment management firm added 1,426 additional shares and now holds a total of 28,584 shares of CSX Corporation which is valued at $818,360. CSX Corporation makes up approx 0.54% of Heritage Wealth Advisors’s portfolio.Capwealth Advisors boosted its stake in CSX in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 647 shares of CSX Corporation which is valued at $18,245.Pillar Pacific Capital Management boosted its stake in CSX in the latest quarter, The investment management firm added 1,955 additional shares and now holds a total of 205,576 shares of CSX Corporation which is valued at $5,797,243. CSX Corporation makes up approx 0.93% of Pillar Pacific Capital Management’s portfolio.

CSX Corporation opened for trading at $28.27 and hit $28.82 on the upside on Wednesday, eventually ending the session at $28.81, with a gain of 2.45% or 0.69 points. The heightened volatility saw the trading volume jump to 7,999,473 shares. Company has a market cap of $27,254 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.

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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