Kirby Co. (NYSE:KEX) Shares Bought by Algert Global LLC

Algert Global LLC lifted its position in shares of Kirby Co. (NYSE:KEX) by 32.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,527 shares of the shipping company’s stock after purchasing an additional 22,778 shares during the period. Algert Global LLC owned about 0.16% of Kirby worth $11,328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its position in Kirby by 201.8% in the 2nd quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock valued at $1,941,000 after acquiring an additional 10,841 shares during the period. Quest Partners LLC grew its position in Kirby by 1,247.8% in the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock valued at $1,481,000 after buying an additional 11,455 shares during the last quarter. Tidal Investments LLC acquired a new position in Kirby in the 1st quarter valued at $755,000. First Hawaiian Bank purchased a new position in Kirby during the 2nd quarter worth $852,000. Finally, Samlyn Capital LLC boosted its holdings in shares of Kirby by 7.8% in the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock valued at $38,284,000 after acquiring an additional 23,086 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the sale, the vice president now directly owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the transaction, the director now owns 15,488 shares of the company’s stock, valued at $1,985,716.48. This trade represents a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,596 shares of company stock worth $8,541,440. Company insiders own 1.50% of the company’s stock.

Kirby Price Performance

Kirby stock opened at $128.28 on Friday. The company has a market cap of $7.36 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Kirby Co. has a one year low of $72.11 and a one year high of $132.21. The business has a fifty day moving average of $123.54 and a two-hundred day moving average of $120.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. During the same quarter last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts predict that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.80.

About Kirby

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.