International Assets Investment Management LLC Purchases New Stake in Kirby Co. (NYSE:KEX)

International Assets Investment Management LLC bought a new position in shares of Kirby Co. (NYSE:KEX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 17,030 shares of the shipping company’s stock, valued at approximately $1,337,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Treasurer of the State of North Carolina boosted its position in Kirby by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 26,157 shares of the shipping company’s stock valued at $2,166,000 after purchasing an additional 130 shares during the period. Swiss National Bank raised its holdings in Kirby by 0.9% during the third quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock worth $2,729,000 after purchasing an additional 300 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Kirby by 1.7% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 18,129 shares of the shipping company’s stock worth $1,395,000 after buying an additional 304 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Kirby by 3.8% in the third quarter. Keybank National Association OH now owns 8,565 shares of the shipping company’s stock valued at $709,000 after buying an additional 313 shares during the period. Finally, Jane Street Group LLC boosted its stake in Kirby by 4.0% during the first quarter. Jane Street Group LLC now owns 9,181 shares of the shipping company’s stock valued at $663,000 after buying an additional 349 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Kirby news, insider Christian G. O’neil sold 8,994 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total transaction of $765,839.10. Following the completion of the transaction, the insider now owns 16,079 shares of the company’s stock, valued at approximately $1,369,126.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Kirby news, insider Christian G. O’neil sold 8,994 shares of Kirby stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total transaction of $765,839.10. Following the sale, the insider now owns 16,079 shares in the company, valued at $1,369,126.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.72, for a total value of $593,040.00. Following the completion of the sale, the chief executive officer now owns 84,399 shares in the company, valued at $7,150,283.28. The disclosure for this sale can be found here. Insiders sold a total of 56,418 shares of company stock worth $4,932,521 in the last three months. 1.50% of the stock is owned by insiders.

Kirby Stock Up 0.9 %

Kirby stock opened at $95.81 on Monday. Kirby Co. has a twelve month low of $66.42 and a twelve month high of $101.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. The firm has a market cap of $5.61 billion, a PE ratio of 25.76, a P/E/G ratio of 1.62 and a beta of 1.21. The firm’s 50 day moving average price is $91.22 and its two-hundred day moving average price is $82.97.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. Kirby had a net margin of 7.21% and a return on equity of 7.12%. Kirby’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. On average, research analysts predict that Kirby Co. will post 4.94 EPS for the current fiscal year.

Analysts Set New Price Targets

KEX has been the subject of a number of research analyst reports. Stephens reissued an “overweight” rating and issued a $105.00 price target on shares of Kirby in a report on Monday, February 5th. Stifel Nicolaus increased their target price on shares of Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Friday. BTIG Research increased their price objective on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th.

Kirby 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.