Kirby Co. (NYSE:KEX) Stake Raised by Royce & Associates LP

Royce & Associates LP increased its holdings in Kirby Co. (NYSE:KEX) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,130 shares of the shipping company’s stock after acquiring an additional 5,171 shares during the period. Royce & Associates LP owned about 0.38% of Kirby worth $26,583,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KEX. SG Americas Securities LLC lifted its stake in Kirby by 53.9% in the 1st quarter. SG Americas Securities LLC now owns 5,372 shares of the shipping company’s stock worth $512,000 after acquiring an additional 1,881 shares in the last quarter. Sei Investments Co. raised its stake in shares of Kirby by 32.4% during the 1st quarter. Sei Investments Co. now owns 66,833 shares of the shipping company’s stock worth $6,371,000 after purchasing an additional 16,373 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Kirby by 2.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 18,370 shares of the shipping company’s stock worth $1,751,000 after purchasing an additional 523 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Kirby during the 1st quarter worth about $1,031,000. Finally, Bessemer Group Inc. raised its stake in shares of Kirby by 23.2% during the 1st quarter. Bessemer Group Inc. now owns 250,710 shares of the shipping company’s stock worth $23,897,000 after purchasing an additional 47,134 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

KEX opened at $128.05 on Friday. The firm has a market capitalization of $7.35 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The stock’s 50 day moving average price is $122.17 and its two-hundred day moving average price is $119.61. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.04.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. During the same quarter last year, the firm posted $1.05 EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Kirby Co. will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KEX. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America increased their price objective on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.80.

Insiders Place Their Bets

In other Kirby news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the completion of the sale, the chief operating officer now owns 7,746 shares of the company’s stock, valued at $1,006,980. This represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,596 shares of company stock worth $7,515,760. 1.50% of the stock is currently owned by company insiders.

Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.