Assenagon Asset Management S.A. Has $23.69 Million Stake in Kirby Corporation $KEX

Assenagon Asset Management S.A. raised its position in Kirby Corporation (NYSE:KEX) by 94.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,979 shares of the shipping company’s stock after buying an additional 104,295 shares during the quarter. Assenagon Asset Management S.A. owned about 0.40% of Kirby worth $23,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after acquiring an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Kirby by 152.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock valued at $18,441,000 after purchasing an additional 110,320 shares in the last quarter. Creative Planning raised its position in Kirby by 9.3% during the second quarter. Creative Planning now owns 7,374 shares of the shipping company’s stock valued at $836,000 after purchasing an additional 630 shares in the last quarter. Cetera Investment Advisers lifted its stake in Kirby by 37.7% during the second quarter. Cetera Investment Advisers now owns 9,977 shares of the shipping company’s stock worth $1,131,000 after purchasing an additional 2,731 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Kirby by 48.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 198,859 shares of the shipping company’s stock valued at $22,553,000 after purchasing an additional 64,795 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Stock Down 0.4%

Shares of NYSE:KEX opened at $135.83 on Thursday. The company has a fifty day moving average of $126.98 and a 200-day moving average of $110.03. The company has a market capitalization of $7.28 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 1.53. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $137.96.

Kirby (NYSE:KEX) last released its quarterly earnings data 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 return on equity of 10.53% and a net margin of 10.54%.The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same quarter last year, the business posted $1.29 EPS. Kirby’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts predict that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Insider Activity

In other news, VP Amy D. Husted sold 11,667 shares of Kirby stock in a transaction dated 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 sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total value of $477,892.80. Following the sale, the vice president owned 3,565 shares in the company, valued at approximately $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 71,495 shares of company stock valued at $9,226,173. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KEX has been the topic of several recent analyst reports. Evercore reiterated an “outperform” rating and issued a $138.00 price target on shares of Kirby in a research note on Monday, March 9th. Citigroup raised their price objective on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and issued a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. BTIG Research lowered their target price on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Finally, Weiss Ratings cut shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating and two have given a Hold 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.

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.