Kirby Corporation $KEX is 12th Street Asset Management Company LLC’s 5th Largest Position

12th Street Asset Management Company LLC lowered its position in shares of Kirby Corporation (NYSE:KEX) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 441,357 shares of the shipping company’s stock after selling 44,878 shares during the quarter. Kirby accounts for about 6.2% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 5th largest position. 12th Street Asset Management Company LLC owned approximately 0.79% of Kirby worth $36,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KEX. Alliancebernstein L.P. boosted its stake in shares of Kirby by 72.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after acquiring an additional 959,209 shares in the last quarter. Norges Bank purchased a new stake in Kirby during the second quarter worth about $78,256,000. Hood River Capital Management LLC purchased a new position in Kirby in the 2nd quarter valued at approximately $73,784,000. Encompass Capital Advisors LLC increased its stake in shares of Kirby by 32.4% during the second quarter. Encompass Capital Advisors LLC now owns 1,225,338 shares of the shipping company’s stock worth $138,966,000 after buying an additional 299,981 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Kirby during the second quarter worth $32,817,000. Institutional investors own 96.15% of the company’s stock.

Analyst Ratings Changes

KEX has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a report on Thursday, January 22nd. Evercore lifted their price target on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. BTIG Research decreased their price objective on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Citigroup increased their target price on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kirby currently has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Insider Activity at Kirby

In other news, COO Christian G. O’neil sold 11,145 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $111.68, for a total value of $1,244,673.60. Following the transaction, the chief operating officer owned 14,835 shares in the company, valued at $1,656,772.80. This represents a 42.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott P. Miller sold 3,960 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the completion of the transaction, the vice president directly owned 3,565 shares in the company, valued at $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 63,898 shares of company stock worth $7,081,741. Company insiders own 0.90% of the company’s stock.

Kirby Price Performance

NYSE KEX opened at $121.51 on Friday. The company’s 50 day simple moving average is $118.52 and its 200 day simple moving average is $104.00. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $132.18. The firm has a market capitalization of $6.59 billion, a PE ratio of 19.20, a P/E/G ratio of 1.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company posted $1.29 earnings per share. As a group, equities research analysts forecast that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Kirby 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.