Advantage Alpha Capital Partners LP Raises Holdings in Kirby Co. (NYSE:KEX)

Advantage Alpha Capital Partners LP raised its holdings in Kirby Co. (NYSE:KEX) by 51.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,693 shares of the shipping company’s stock after purchasing an additional 16,497 shares during the quarter. Kirby accounts for 1.4% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 25th largest holding. Advantage Alpha Capital Partners LP owned 0.08% of Kirby worth $5,961,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Dynamic Technology Lab Private Ltd increased its position in shares of Kirby by 96.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,816 shares of the shipping company’s stock worth $1,079,000 after purchasing an additional 4,331 shares during the last quarter. Algert Global LLC increased its position in shares of Kirby by 32.7% during the third quarter. Algert Global LLC now owns 92,527 shares of the shipping company’s stock valued at $11,328,000 after acquiring an additional 22,778 shares during the last quarter. Cerity Partners LLC increased its position in shares of Kirby by 68.6% during the third quarter. Cerity Partners LLC now owns 8,152 shares of the shipping company’s stock valued at $998,000 after acquiring an additional 3,317 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kirby by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after acquiring an additional 152,146 shares during the period. Finally, Premier Fund Managers Ltd lifted its holdings in shares of Kirby by 12.3% in the 3rd quarter. Premier Fund Managers Ltd now owns 11,850 shares of the shipping company’s stock worth $1,485,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Insiders Place Their Bets

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The trade was a 35.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David W. Grzebinski sold 26,358 shares of the firm’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 completion of the sale, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,596 shares of company stock worth $8,541,440 in the last quarter. 1.40% of the stock is owned by company insiders.

Kirby Stock Up 1.7 %

Shares of NYSE:KEX opened at $130.48 on Tuesday. The firm has a market capitalization of $7.49 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The firm’s 50-day moving average is $123.93 and its two-hundred day moving average is $120.57.

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

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.