Royce & Associates LP raised its stake in Kirby Co. (NYSE:KEX - Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 217,130 shares of the shipping company's stock after buying an additional 5,171 shares during the quarter. Royce & Associates LP owned 0.38% of Kirby worth $26,583,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Kirby by 53.9% during the first quarter. SG Americas Securities LLC now owns 5,372 shares of the shipping company's stock valued at $512,000 after acquiring an additional 1,881 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Kirby by 32.4% in the 1st quarter. Sei Investments Co. now owns 66,833 shares of the shipping company's stock valued at $6,371,000 after purchasing an additional 16,373 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Kirby by 2.9% in the first quarter. Orion Portfolio Solutions LLC now owns 18,370 shares of the shipping company's stock worth $1,751,000 after purchasing an additional 523 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Kirby during the first quarter worth $1,031,000. Finally, Bessemer Group Inc. raised its stake in shares of Kirby by 23.2% in the 1st quarter. Bessemer Group Inc. now owns 250,710 shares of the shipping company's stock valued at $23,897,000 after acquiring an additional 47,134 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.
Insider Activity at Kirby
In related news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. This trade represents a 35.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David W. Grzebinski sold 26,358 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the transaction, the chief executive officer now owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. This represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,596 shares of company stock valued at $7,515,760 over the last quarter. Corporate insiders own 1.50% of the company's stock.
Kirby Price Performance
Shares of Kirby stock traded down $1.91 during trading on Friday, hitting $128.04. 325,575 shares of the company's stock traded hands, compared to its average volume of 457,057. The company has a market cap of $7.35 billion, a PE ratio of 24.58, a PEG ratio of 0.76 and a beta of 1.17. The firm's fifty day moving average price is $122.45 and its 200 day moving average price is $119.73. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $132.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.
Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm had revenue of $831.10 million for the quarter, compared to analysts' expectations of $824.42 million. During the same period in the prior year, the firm earned $1.05 earnings per share. The company's quarterly revenue was up 8.7% compared to the same quarter last year. Analysts forecast that Kirby Co. will post 5.44 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on KEX. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research report on Sunday, September 22nd. Bank of America increased their target price on Kirby from $138.00 to $141.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $123.80.
Check Out Our Latest Research Report on KEX
Kirby Company Profile
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Free Report)
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.
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