American International Group Inc. Has $6.27 Million Stake in Kirby Co. (NYSE:KEX)

American International Group Inc. lowered its position in Kirby Co. (NYSE:KEXFree Report) by 4.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 79,829 shares of the shipping company’s stock after selling 4,000 shares during the period. American International Group Inc. owned 0.14% of Kirby worth $6,265,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEX. Norges Bank acquired a new position in shares of Kirby in the 4th quarter worth approximately $51,781,000. FMR LLC lifted its position in shares of Kirby by 30.9% in the 3rd quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock worth $173,886,000 after purchasing an additional 495,541 shares during the period. RK Capital Management LLC acquired a new position in shares of Kirby in the 3rd quarter worth approximately $8,412,000. Vanguard Group Inc. increased its stake in shares of Kirby by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,015,915 shares of the shipping company’s stock valued at $498,118,000 after acquiring an additional 64,420 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kirby by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,624,271 shares of the shipping company’s stock valued at $205,954,000 after acquiring an additional 62,378 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insiders Place Their Bets

In other Kirby news, VP Scott P. Miller sold 6,705 shares of Kirby stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $95.05, for a total transaction of $637,310.25. Following the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $95,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kirby news, VP Scott P. Miller sold 6,705 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $95.05, for a total transaction of $637,310.25. Following the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at $95,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kurt A. Niemietz sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $119.50, for a total transaction of $179,250.00. Following the sale, the vice president now directly owns 926 shares in the company, valued at $110,657. The disclosure for this sale can be found here. Insiders have sold 43,162 shares of company stock valued at $4,752,143 in the last three months. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KEX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. BTIG Research lifted their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wolfe Research initiated coverage on shares of Kirby in a research note on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $119.50.

Read Our Latest Research Report on Kirby

Kirby Stock Performance

Shares of KEX stock opened at $119.59 on Tuesday. The firm has a market capitalization of $7.00 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.17. The firm has a fifty day simple moving average of $110.42 and a two-hundred day simple moving average of $92.31. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $124.92.

Kirby (NYSE:KEXGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22. The business had revenue of $808.00 million during the quarter, compared to analyst estimates of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 7.96%. Kirby’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Analysts forecast that Kirby Co. will post 5.29 EPS for the current fiscal year.

Kirby Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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