Fmr LLC Grows Position in Kirby Co. (NYSE:KEX)

Fmr LLC boosted its stake in Kirby Co. (NYSE:KEX) by 74.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,790,462 shares of the shipping company’s stock after purchasing an additional 763,476 shares during the quarter. Fmr LLC owned about 2.98% of Kirby worth $124,795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. ExodusPoint Capital Management LP acquired a new position in shares of Kirby during the fourth quarter worth $5,221,000. Bessemer Group Inc. grew its position in Kirby by 58.8% in the 4th quarter. Bessemer Group Inc. now owns 70,027 shares of the shipping company’s stock valued at $4,507,000 after buying an additional 25,928 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Kirby by 105.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,111 shares of the shipping company’s stock valued at $217,000 after buying an additional 1,598 shares in the last quarter. Amalgamated Bank lifted its holdings in Kirby by 1.8% in the 4th quarter. Amalgamated Bank now owns 43,610 shares of the shipping company’s stock valued at $2,806,000 after acquiring an additional 771 shares during the last quarter. Finally, Premier Fund Managers Ltd lifted its holdings in Kirby by 63.3% in the 4th quarter. Premier Fund Managers Ltd now owns 27,436 shares of the shipping company’s stock valued at $9,554,000 after acquiring an additional 10,636 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Kirby Trading Up 1.6 %

NYSE:KEX opened at $84.15 on Friday. Kirby Co. has a 52 week low of $57.64 and a 52 week high of $84.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.78. The stock’s 50 day moving average price is $78.97 and its 200 day moving average price is $74.01. The company has a market capitalization of $5.01 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.83 and a beta of 1.27.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.83 by $0.12. Kirby had a return on equity of 5.82% and a net margin of 5.81%. The company had revenue of $777.20 million for the quarter, compared to the consensus estimate of $781.18 million. During the same quarter last year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts forecast that Kirby Co. will post 3.71 EPS for the current fiscal year.

Insider Activity

In other news, VP Scott P. Miller sold 6,315 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $82.81, for a total value of $522,945.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kirby news, VP Amy D. Husted sold 1,500 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $77.00, for a total transaction of $115,500.00. Following the completion of the transaction, the vice president now directly owns 9,572 shares in the company, valued at $737,044. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott P. Miller sold 6,315 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $82.81, for a total value of $522,945.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,888 shares of company stock valued at $2,136,910. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Kirby in a research note on Thursday, August 17th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

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.