Assenagon Asset Management S.A. Raises Stake in Kirby Co. (NYSE:KEX)

Assenagon Asset Management S.A. increased its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 47.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,102 shares of the shipping company's stock after purchasing an additional 44,858 shares during the quarter. Assenagon Asset Management S.A. owned 0.24% of Kirby worth $17,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scout Investments Inc. lifted its stake in Kirby by 66.5% during the first quarter. Scout Investments Inc. now owns 108,814 shares of the shipping company's stock worth $10,299,000 after purchasing an additional 43,465 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Kirby by 21.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company's stock worth $85,432,000 after acquiring an additional 157,880 shares in the last quarter. Sei Investments Co. boosted its holdings in Kirby by 32.4% during the 1st quarter. Sei Investments Co. now owns 66,833 shares of the shipping company's stock valued at $6,371,000 after acquiring an additional 16,373 shares during the period. SG Americas Securities LLC grew its position in Kirby by 201.8% in the 2nd quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company's stock valued at $1,941,000 after acquiring an additional 10,841 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Kirby during the first quarter worth about $1,031,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Up 1.4 %

Shares of NYSE:KEX traded up $1.76 during trading hours on Friday, reaching $125.50. The stock had a trading volume of 493,886 shares, compared to its average volume of 450,088. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $130.90. The firm's 50 day moving average is $120.63 and its 200-day moving average is $117.49. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 0.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.11. The company had revenue of $824.40 million for the quarter, compared to analysts' expectations of $821.65 million. Kirby had a return on equity of 8.70% and a net margin of 8.72%. Kirby's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Research analysts predict that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now owns 5,280 shares of the company's stock, valued at $668,131.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Christian G. O'neil sold 2,770 shares of Kirby stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the sale, the chief operating officer now owns 16,079 shares of the company's stock, valued at $1,772,066.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares of the company's stock, valued at $668,131.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,012 shares of company stock valued at $5,571,267 over the last ninety days. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Kirby from $138.00 to $141.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $123.80.

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.