JPMorgan Chase & Co. Increases Position in Kirby Co. (NYSE:KEX)

JPMorgan Chase & Co. boosted its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 27.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 142,265 shares of the shipping company's stock after purchasing an additional 30,713 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of Kirby worth $17,418,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Select Equity Group L.P. acquired a new stake in Kirby during the second quarter valued at $65,928,000. Encompass Capital Advisors LLC grew its position in shares of Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock valued at $106,246,000 after acquiring an additional 224,802 shares during the period. Victory Capital Management Inc. increased its stake in shares of Kirby by 68.7% in the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company's stock valued at $58,428,000 after purchasing an additional 194,410 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Kirby in the 3rd quarter worth about $22,106,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock worth $85,585,000 after purchasing an additional 152,146 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Price Performance

Shares of NYSE KEX traded down $1.15 during mid-day trading on Friday, reaching $103.89. The company's stock had a trading volume of 719,585 shares, compared to its average volume of 678,931. The stock has a market capitalization of $5.96 billion, a P/E ratio of 19.94, a P/E/G ratio of 0.69 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. Kirby Co. has a 1-year low of $74.88 and a 1-year high of $132.21. The stock has a 50-day moving average of $117.29 and a two-hundred day moving average of $119.03.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to analysts' expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. On average, equities research analysts anticipate that Kirby Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $123.80.

Insider Activity

In other news, Director Richard Ross Stewart sold 8,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the transaction, the director now owns 15,488 shares of the company's stock, valued at $1,985,716.48. This represents a 34.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the sale, the vice president now directly owns 7,683 shares of the company's stock, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is currently owned by insiders.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.