International Assets Investment Management LLC Purchases 26,350 Shares of Kirby Co. (NYSE:KEX)

International Assets Investment Management LLC increased its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 12,142.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,567 shares of the shipping company's stock after purchasing an additional 26,350 shares during the quarter. International Assets Investment Management LLC's holdings in Kirby were worth $3,253,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KEX. Select Equity Group L.P. purchased a new position in shares of Kirby in the 2nd quarter valued at about $65,928,000. Lord Abbett & CO. LLC purchased a new stake in Kirby in the 1st quarter valued at about $22,877,000. Encompass Capital Advisors LLC increased its position in Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock worth $106,246,000 after purchasing an additional 224,802 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Kirby in the 3rd quarter worth $22,106,000. Finally, F M Investments LLC purchased a new position in shares of Kirby in the 2nd quarter worth about $14,185,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Stock Performance

Kirby stock traded down $0.48 during mid-day trading on Friday, reaching $114.28. The company had a trading volume of 630,737 shares, compared to its average volume of 431,984. The company has a 50 day moving average of $120.75 and a 200-day moving average of $118.37. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 0.71 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. On average, sell-side analysts expect that Kirby Co. will post 5.46 EPS for the current fiscal year.

Insider Activity at Kirby

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Amy D. Husted sold 2,853 shares of the firm's stock in a transaction 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 sale, the vice president now owns 5,280 shares of the company's stock, valued at approximately $668,131.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,012 shares of company stock valued at $5,571,267 in the last three months. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on KEX. Bank of America raised their target price on Kirby from $138.00 to $141.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.