Advantage Alpha Capital Partners LP Has $4.69 Million Holdings in Kirby Corporation $KEX

Advantage Alpha Capital Partners LP reduced its stake in shares of Kirby Corporation (NYSE:KEX) by 39.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,382 shares of the shipping company’s stock after selling 26,513 shares during the quarter. Kirby comprises about 1.3% of Advantage Alpha Capital Partners LP’s portfolio, making the stock its 22nd biggest position. Advantage Alpha Capital Partners LP owned 0.07% of Kirby worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of KEX. Thurston Springer Miller Herd & Titak Inc. boosted its position in Kirby by 244.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock valued at $26,000 after buying an additional 164 shares during the last quarter. Maseco LLP acquired a new position in shares of Kirby during the second quarter valued at $28,000. IFP Advisors Inc bought a new position in Kirby in the second quarter valued at about $29,000. Bell Investment Advisors Inc boosted its holdings in Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 114 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock worth $40,000 after purchasing an additional 114 shares during the period. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Up 1.0%

Shares of NYSE KEX opened at $113.15 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. The stock has a market capitalization of $6.13 billion, a PE ratio of 20.99, a P/E/G ratio of 1.05 and a beta of 1.05. Kirby Corporation has a one year low of $79.51 and a one year high of $129.96. The business’s fifty day moving average price is $94.56 and its 200-day moving average price is $102.11.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a return on equity of 10.06% and a net margin of 9.22%.The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. On average, equities research analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup upgraded shares of Kirby from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $128.00 in a research report on Wednesday, November 5th. Evercore ISI boosted their price target on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Kirby in a research note on Thursday, September 18th. Bank of America lowered their target price on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kirby currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.40.

Insider Buying and Selling at Kirby

In other Kirby news, CEO David W. Grzebinski sold 29,451 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the sale, the chief executive officer owned 79,709 shares in the company, valued at $8,561,543.69. This represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Ross Stewart sold 1,923 shares of Kirby stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.83, for a total value of $207,357.09. Following the completion of the transaction, the director owned 15,488 shares of the company’s stock, valued at approximately $1,670,071.04. This trade represents a 11.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 44,502 shares of company stock valued at $4,788,691. 0.90% of the stock is owned by corporate insiders.

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.