Algert Global LLC Boosts Stock Position in Kirby Co. (NYSE:KEX)

Algert Global LLC raised its position in Kirby Co. (NYSE:KEX) by 32.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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’s holdings in Kirby were worth $11,328,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KEX. Cerity Partners LLC raised its position in shares of Kirby by 68.6% in the third quarter. Cerity Partners LLC now owns 8,152 shares of the shipping company’s stock valued at $998,000 after buying an additional 3,317 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Kirby by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock worth $85,585,000 after acquiring an additional 152,146 shares during the period. Premier Fund Managers Ltd raised its holdings in Kirby by 12.3% in the 3rd quarter. Premier Fund Managers Ltd now owns 11,850 shares of the shipping company’s stock valued at $1,485,000 after acquiring an additional 1,300 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Kirby during the 3rd quarter worth $214,000. Finally, Pathstone Holdings LLC boosted its holdings in shares of Kirby by 3.6% during the third quarter. Pathstone Holdings LLC now owns 12,554 shares of the shipping company’s stock worth $1,537,000 after purchasing an additional 432 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Stock Performance

Shares of KEX stock opened at $128.28 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The firm has a market capitalization of $7.36 billion, a price-to-earnings 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 company has a 50 day moving average price of $123.54 and a 200 day moving average price of $120.27.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. Sell-side analysts anticipate that Kirby Co. will post 5.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. The trade was a 29.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock worth $8,541,440 over the last three months. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kirby currently has a consensus 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.