7,752 Shares in Kirby Co. (NYSE:KEX) Acquired by Paloma Partners Management Co

Paloma Partners Management Co bought a new position in Kirby Co. (NYSE:KEX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,752 shares of the shipping company’s stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in Kirby by 17.8% during the 4th quarter. Raymond James & Associates now owns 6,845 shares of the shipping company’s stock valued at $537,000 after buying an additional 1,036 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Kirby by 78.0% during the 4th quarter. Pacer Advisors Inc. now owns 8,922 shares of the shipping company’s stock valued at $700,000 after buying an additional 3,910 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Kirby during the 4th quarter valued at approximately $1,337,000. Advisors Preferred LLC purchased a new stake in Kirby during the 4th quarter valued at approximately $2,958,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Kirby by 3.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 738,377 shares of the shipping company’s stock valued at $57,947,000 after buying an additional 24,040 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Up 1.0 %

Shares of Kirby stock traded up $1.15 during trading on Monday, hitting $120.59. 404,556 shares of the stock traded hands, compared to its average volume of 452,800. The firm has a market cap of $7.06 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90. The stock’s fifty day simple moving average is $120.69 and its 200 day simple moving average is $102.65.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.97 by $0.22. The firm had revenue of $808.00 million for the quarter, compared to analyst estimates of $784.49 million. Kirby had a return on equity of 7.96% and a net margin of 8.01%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, equities analysts predict that Kirby Co. will post 5.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 7,853 shares of Kirby stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $122.50, for a total value of $961,992.50. Following the transaction, the vice president now owns 5,280 shares in the company, valued at $646,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Richard Ross Stewart sold 676 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $109.60, for a total transaction of $74,089.60. Following the sale, the director now owns 23,488 shares in the company, valued at $2,574,284.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy D. Husted sold 7,853 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $122.50, for a total value of $961,992.50. Following the sale, the vice president now owns 5,280 shares in the company, valued at approximately $646,800. The disclosure for this sale can be found here. Insiders have sold 33,319 shares of company stock worth $3,896,633 over the last quarter. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on KEX shares. Stifel Nicolaus increased their target price on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Wolfe Research started coverage on Kirby in a research report on Monday, April 22nd. They set an “outperform” rating and a $126.00 target price for the company. BTIG Research increased their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Bank of America increased their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $123.80.

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.