Benson Investment Management Company Inc. Takes Position in Kirby Corporation $KEX

Benson Investment Management Company Inc. acquired a new position in shares of Kirby Corporation (NYSE:KEX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 39,575 shares of the shipping company’s stock, valued at approximately $3,303,000. Benson Investment Management Company Inc. owned about 0.07% of Kirby at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Ethic Inc. raised its holdings in Kirby by 3.1% in the second quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock worth $372,000 after purchasing an additional 98 shares during the period. Brooklyn Investment Group increased its position in shares of Kirby by 40.7% in the 1st quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock valued at $40,000 after buying an additional 114 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after buying an additional 114 shares during the period. Parallel Advisors LLC lifted its holdings in Kirby by 49.4% during the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Kirby by 38.1% in the second quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 125 shares during the period. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

KEX has been the topic of a number of research analyst reports. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup increased their target price on Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday. BTIG Research reaffirmed a “buy” rating and issued a $125.00 price target on shares of Kirby in a research note on Thursday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.00.

Kirby Price Performance

Shares of KEX opened at $110.88 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $122.50. The stock has a market capitalization of $6.01 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.08 and a beta of 0.88. The company has a 50 day moving average of $103.64 and a 200-day moving average of $102.29.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. The business had revenue of $871.16 million during the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share. As a group, equities research analysts forecast that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Ronald A. Dragg sold 2,715 shares of Kirby stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $110.29, for a total value of $299,437.35. Following the sale, the vice president owned 10,325 shares of the company’s stock, valued at approximately $1,138,744.25. The trade was a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy D. Husted sold 10,413 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total value of $1,118,564.46. Following the sale, the vice president owned 11,760 shares in the company, valued at $1,263,259.20. The trade was a 46.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,002 shares of company stock worth $4,959,871 over the last three months. Company insiders own 0.90% of the company’s stock.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.