Dynamic Technology Lab Private Ltd Acquires New Shares in Kirby Corporation $KEX

Dynamic Technology Lab Private Ltd acquired a new position in shares of Kirby Corporation (NYSE:KEX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,214 shares of the shipping company’s stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC increased its position in Kirby by 717.0% during the third quarter. Barclays PLC now owns 186,260 shares of the shipping company’s stock worth $15,543,000 after buying an additional 163,462 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in Kirby by 4.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 26,440 shares of the shipping company’s stock worth $2,206,000 after buying an additional 1,116 shares during the period. 111 Capital acquired a new stake in Kirby in the 3rd quarter worth about $225,000. William Blair Investment Management LLC raised its position in shares of Kirby by 16.0% in the third quarter. William Blair Investment Management LLC now owns 335,657 shares of the shipping company’s stock valued at $28,011,000 after buying an additional 46,287 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Kirby by 438.7% during the third quarter. American Century Companies Inc. now owns 271,499 shares of the shipping company’s stock worth $22,657,000 after buying an additional 221,100 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insiders Place Their Bets

In other news, VP Ronald A. Dragg sold 5,429 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total transaction of $662,338.00. Following the completion of the transaction, the vice president owned 10,399 shares of the company’s stock, valued at approximately $1,268,678. This trade represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christian G. O’neil sold 11,287 shares of Kirby stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $132.34, for a total transaction of $1,493,721.58. Following the transaction, the chief operating officer owned 11,287 shares in the company, valued at approximately $1,493,721.58. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,640 shares of company stock worth $10,470,847 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Kirby Price Performance

Shares of NYSE:KEX opened at $126.69 on Wednesday. Kirby Corporation has a one year low of $79.51 and a one year 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. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.13 and a beta of 0.83. The firm has a 50 day simple moving average of $124.95 and a 200 day simple moving average of $107.51.

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

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.