Kirby Corporation $KEX Stock Position Increased by American Century Companies Inc.

American Century Companies Inc. raised its position in shares of Kirby Corporation (NYSE:KEX) by 438.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 271,499 shares of the shipping company’s stock after purchasing an additional 221,100 shares during the period. American Century Companies Inc. owned 0.49% of Kirby worth $22,657,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Peregrine Capital Management LLC raised its position in shares of Kirby by 18.4% during the 3rd quarter. Peregrine Capital Management LLC now owns 131,000 shares of the shipping company’s stock worth $10,932,000 after buying an additional 20,399 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Kirby during the third quarter worth approximately $2,030,000. Luminus Management LLC raised its holdings in Kirby by 292.0% during the third quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after purchasing an additional 87,120 shares in the last quarter. VELA Investment Management LLC increased its position in shares of Kirby by 11.5% during the 3rd quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock valued at $13,392,000 after purchasing an additional 16,615 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Kirby by 312.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 26,006 shares of the shipping company’s stock worth $2,170,000 after buying an additional 19,705 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Trading Down 1.3%

Shares of Kirby stock opened at $125.96 on Tuesday. The company’s fifty day moving average price is $124.64 and its two-hundred day moving average price is $107.32. The firm has a market capitalization of $6.76 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $134.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The business had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. On average, analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KEX shares. Citigroup lifted their target price on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Zacks Research downgraded Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Evercore reissued an “outperform” rating and issued a $138.00 target price on shares of Kirby in a research report on Monday. Finally, Wolfe Research reiterated an “outperform” rating and set a $136.00 price target on shares of Kirby in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.60.

Insider Transactions at Kirby

In other Kirby news, VP Amy D. Husted sold 11,667 shares of Kirby stock in a transaction on Friday, February 20th. The stock was sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the completion of the transaction, the vice president directly owned 14,814 shares of the company’s stock, valued at approximately $1,915,894.62. This trade represents a 44.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 34,152 shares of Kirby stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the transaction, the chief executive officer directly owned 98,241 shares of the company’s stock, valued at $12,776,242.05. This represents a 25.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 82,640 shares of company stock valued at $10,470,847. 0.90% of the stock is owned by insiders.

About Kirby

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.