Kirby Co. (NYSE:KEX) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Kirby Co. (NYSE:KEX) by 15,397.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,879 shares of the shipping company’s stock after acquiring an additional 67,441 shares during the quarter. GAMMA Investing LLC owned 0.12% of Kirby worth $6,856,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Kirby during the 4th quarter worth approximately $74,293,000. Select Equity Group L.P. lifted its holdings in Kirby by 59.0% in the 4th quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company’s stock worth $165,650,000 after buying an additional 581,215 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Kirby by 69.7% in the 4th quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company’s stock valued at $92,712,000 after purchasing an additional 359,770 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Kirby by 848.5% in the 4th quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company’s stock valued at $41,648,000 after purchasing an additional 352,144 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Kirby by 11,498.6% in the 4th quarter. Squarepoint Ops LLC now owns 194,508 shares of the shipping company’s stock valued at $20,579,000 after purchasing an additional 192,831 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of Kirby stock opened at $112.24 on Monday. The firm has a market cap of $6.30 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The firm’s 50-day simple moving average is $101.90 and its 200-day simple moving average is $105.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. Kirby Co. has a 1 year low of $83.94 and a 1 year high of $132.21.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The business had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts forecast that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their target price on shares of Kirby from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, May 16th.

Kirby Company 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.