Paloma Partners Management Co Invests $739,000 in Kirby Co. (NYSE:KEX)

Paloma Partners Management Co purchased a new position in shares of Kirby Co. (NYSE:KEX) during the first quarter, Holdings Channel.com reports. The fund purchased 7,752 shares of the shipping company’s stock, valued at approximately $739,000.

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

Kirby Price Performance

Shares of KEX traded up $1.15 during trading hours on Monday, hitting $120.59. 404,556 shares of the company were exchanged, compared to its average volume of 452,800. The company has a market capitalization of $7.06 billion, a PE ratio of 28.24, a PEG ratio of 0.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.81 and a quick ratio of 1.12. The firm has a fifty day simple moving average of $120.69 and a 200-day simple moving average of $102.65. Kirby Co. has a one year low of $72.11 and a one year high of $130.90.

Kirby (NYSE:KEX) last released its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.22. The business had revenue of $808.00 million during 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 company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. As a group, sell-side analysts predict that Kirby Co. will post 5.3 earnings per share for the current year.

Insider Transactions at Kirby

In other news, Director William M. Waterman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $114.51, for a total value of $1,145,100.00. Following the completion of the sale, the director now owns 77,316 shares of the company’s stock, valued at $8,853,455.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director William M. Waterman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $114.51, for a total value of $1,145,100.00. Following the completion of the sale, the director now owns 77,316 shares of the company’s stock, valued at $8,853,455.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Ross Stewart sold 676 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $109.60, for a total value of $74,089.60. Following the completion of the sale, the director now directly owns 23,488 shares of the company’s stock, valued at approximately $2,574,284.80. The disclosure for this sale can be found here. Insiders sold a total of 33,319 shares of company stock valued at $3,896,633 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Kirby Company 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.