Dimensional Fund Advisors LP Boosts Stock Position in Kirby Corporation $KEX

Dimensional Fund Advisors LP grew its position in Kirby Corporation (NYSE:KEX) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,390,832 shares of the shipping company’s stock after purchasing an additional 4,927 shares during the period. Dimensional Fund Advisors LP owned approximately 4.28% of Kirby worth $199,518,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. First Horizon Corp acquired a new stake in shares of Kirby during the third quarter worth about $30,000. Bell Investment Advisors Inc increased its holdings in Kirby by 67.1% in 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. True Wealth Design LLC raised its position in Kirby by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock worth $42,000 after buying an additional 308 shares during the last quarter. Frazier Financial Advisors LLC raised its position in Kirby by 559.3% during the 3rd quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock worth $47,000 after buying an additional 481 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Kirby during the 3rd quarter valued at approximately $53,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report 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. Zacks Research lowered shares of Kirby from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. BTIG Research cut their price target on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Finally, Wolfe Research reiterated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kirby has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Insiders Place Their Bets

In other news, COO Christian G. O’neil sold 11,287 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $132.34, for a total transaction of $1,493,721.58. Following the sale, the chief operating officer directly owned 11,287 shares of the company’s stock, valued at $1,493,721.58. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott P. Miller sold 3,960 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were 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 $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 82,640 shares of company stock valued at $10,470,847. Insiders own 0.90% of the company’s stock.

Kirby Price Performance

NYSE:KEX opened at $127.62 on Monday. 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 firm has a market cap of $6.85 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The company has a 50 day moving average price of $124.34 and a 200-day moving average price of $107.12. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $134.69.

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

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.