SG Capital Management LLC bought a new position in shares of Kirby Co. (NYSE:KEX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 108,263 shares of the shipping company’s stock, valued at approximately $8,132,000. Kirby accounts for about 1.5% of SG Capital Management LLC’s portfolio, making the stock its 19th largest position. SG Capital Management LLC owned approximately 0.18% of Kirby as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of KEX. Baillie Gifford & Co. increased its stake in shares of Kirby by 34.9% in the 4th quarter. Baillie Gifford & Co. now owns 7,688,593 shares of the shipping company’s stock worth $517,904,000 after acquiring an additional 1,987,646 shares in the last quarter. BlackRock Inc. increased its stake in shares of Kirby by 0.9% in the 4th quarter. BlackRock Inc. now owns 5,108,644 shares of the shipping company’s stock worth $344,119,000 after acquiring an additional 45,084 shares in the last quarter. Vanguard Group Inc. increased its stake in Kirby by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,718,116 shares of the shipping company’s stock valued at $388,066,000 after purchasing an additional 107,010 shares in the last quarter. Vanguard Group Inc increased its stake in Kirby by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 4,718,116 shares of the shipping company’s stock valued at $388,066,000 after purchasing an additional 107,010 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Kirby by 11.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,383,992 shares of the shipping company’s stock valued at $160,586,000 after purchasing an additional 252,076 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.
KEX stock traded up $2.02 during mid-day trading on Wednesday, reaching $83.26. 441,806 shares of the stock traded hands, compared to its average volume of 460,378. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.44. Kirby Co. has a one year low of $60.63 and a one year high of $94.05. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11.
Kirby (NYSE:KEX) last issued its earnings results on Thursday, May 2nd. The shipping company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Kirby had a net margin of 3.04% and a return on equity of 5.53%. The firm had revenue of $744.60 million during the quarter, compared to analyst estimates of $737.78 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up .4% on a year-over-year basis. As a group, equities research analysts expect that Kirby Co. will post 3.59 EPS for the current year.
In related news, VP Ronald A. Dragg sold 500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $84.00, for a total value of $42,000.00. Following the transaction, the vice president now owns 10,386 shares in the company, valued at approximately $872,424. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Monte J. Miller sold 4,937 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $84.91, for a total value of $419,200.67. Following the completion of the sale, the director now owns 19,126 shares in the company, valued at approximately $1,623,988.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,971 shares of company stock valued at $1,355,459. 1.80% of the stock is owned by insiders.
A number of equities analysts recently issued reports on KEX shares. Zacks Investment Research downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet raised shares of Kirby from a “c+” rating to a “b” rating in a report on Thursday, May 2nd. Bank of America upgraded shares of Kirby from an “underperform” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Co lifted their price objective on shares of Kirby from $74.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. They noted that the move was a valuation call. Finally, BTIG Research began coverage on shares of Kirby in a research report on Friday, January 25th. They set a “neutral” rating and a $67.40 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $86.60.
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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