Kirby Co. (NYSE:KEX) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in Kirby Co. (NYSE:KEX - Free Report) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,141 shares of the shipping company's stock after buying an additional 10,639 shares during the period. Oppenheimer Asset Management Inc. owned about 0.14% of Kirby worth $9,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in shares of Kirby by 1.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company's stock worth $988,000 after purchasing an additional 122 shares during the period. SG Americas Securities LLC lifted 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 worth $512,000 after buying an additional 1,881 shares during the period. Sei Investments Co. boosted its stake in Kirby by 32.4% in the 1st quarter. Sei Investments Co. now owns 66,833 shares of the shipping company's stock worth $6,371,000 after buying an additional 16,373 shares during the last quarter. Scout Investments Inc. boosted its stake in Kirby by 66.5% in the 1st quarter. Scout Investments Inc. now owns 108,814 shares of the shipping company's stock worth $10,299,000 after buying an additional 43,465 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Kirby in the 1st quarter valued at about $22,877,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Trading Up 1.1 %

Shares of NYSE KEX traded up $1.47 during midday trading on Thursday, hitting $129.95. The stock had a trading volume of 333,062 shares, compared to its average volume of 457,652. The company has a fifty day moving average price of $121.93 and a 200 day moving average price of $119.53. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.77 and a beta of 1.17. Kirby Co. has a 1-year low of $72.11 and a 1-year high of $132.04. 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 (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.49%. Kirby's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. On average, analysts predict that Kirby Co. will post 5.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KEX. Bank of America raised their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Kirby has an average rating of "Moderate Buy" and a consensus price target of $123.80.

Insider Activity at Kirby

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the sale, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. This trade represents a 29.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of the company's 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 completion of the transaction, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. The trade was a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,596 shares of company stock worth $7,515,760. Corporate insiders own 1.50% of the company's stock.

About Kirby

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.