Retirement Systems of Alabama Increases Stock Position in Kirby Co. (NYSE:KEX)

Retirement Systems of Alabama boosted its stake in shares of Kirby Co. (NYSE:KEXFree Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,214 shares of the shipping company’s stock after buying an additional 195 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Kirby worth $7,074,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KEX. Vanguard Group Inc. lifted its position in shares of Kirby by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company’s stock worth $478,549,000 after purchasing an additional 81,808 shares in the last quarter. Morgan Stanley lifted its position in shares of Kirby by 0.9% during the third quarter. Morgan Stanley now owns 4,213,354 shares of the shipping company’s stock worth $348,866,000 after purchasing an additional 38,664 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kirby by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,624,271 shares of the shipping company’s stock worth $205,954,000 after purchasing an additional 62,378 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Kirby by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 1,828,758 shares of the shipping company’s stock worth $143,521,000 after purchasing an additional 63,611 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Kirby by 21.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock worth $85,432,000 after purchasing an additional 157,880 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Kirby news, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kurt A. Niemietz sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $119.50, for a total transaction of $179,250.00. Following the completion of the sale, the vice president now directly owns 926 shares of the company’s stock, valued at approximately $110,657. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,806 shares of company stock valued at $3,945,225. 1.40% of the stock is currently owned by corporate insiders.

Kirby Stock Down 1.2 %

KEX stock opened at $120.10 on Friday. The company’s 50 day moving average is $117.98 and its two-hundred day moving average is $97.82. The stock has a market cap of $7.03 billion, a P/E ratio of 28.39, a PEG ratio of 0.74 and a beta of 1.18. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $124.92. 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 (NYSE:KEXGet Free Report) last posted its earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. The firm had revenue of $808.00 million during the quarter, compared to the consensus estimate of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Research analysts expect that Kirby Co. will post 5.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Bank of America raised their target price on shares of Kirby from $131.00 to $138.00 and gave the company a “buy” rating in a report on Monday, June 17th. BTIG Research raised their target price on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wolfe Research began coverage on shares of Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on shares of Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $123.20.

Read Our Latest Research Report on Kirby

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.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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