3,552 Shares in Kirby Co. (NYSE:KEX) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in Kirby Co. (NYSE:KEX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,552 shares of the shipping company’s stock, valued at approximately $425,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 acquiring an additional 81,808 shares during the last quarter. Wellington Management Group LLP grew its stake 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 valued at $143,521,000 after buying an additional 63,611 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Kirby by 4.1% during the first quarter. Jennison Associates LLC now owns 1,401,844 shares of the shipping company’s stock valued at $133,624,000 after buying an additional 54,755 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Kirby by 10.5% during the first quarter. Janus Henderson Group PLC now owns 955,587 shares of the shipping company’s stock valued at $91,086,000 after buying an additional 90,586 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake 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 valued at $85,432,000 after buying an additional 157,880 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America upped their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.80.

Kirby Stock Up 2.0 %

Kirby stock opened at $125.33 on Friday. The business has a fifty day moving average of $118.43 and a two-hundred day moving average of $113.00. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The firm has a market cap of $7.33 billion, a P/E ratio of 29.63, a P/E/G ratio of 0.77 and a beta of 1.17. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $130.90.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. The company had revenue of $824.40 million during the quarter, compared to analyst estimates of $821.65 million. Kirby had a return on equity of 8.70% and a net margin of 8.72%. Kirby’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, analysts forecast that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christian G. O’neil sold 2,770 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The disclosure for this sale can be found here. Insiders sold a total of 46,012 shares of company stock worth $5,571,267 over the last 90 days. Company 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.