Kirby Corporation $KEX Shares Bought by Krilogy Financial LLC
by Jessica Moore · The Cerbat GemKrilogy Financial LLC grew its stake in shares of Kirby Corporation (NYSE:KEX – Free Report) by 120.6% during the fourth quarter, HoldingsChannel reports. The firm owned 9,267 shares of the shipping company’s stock after buying an additional 5,067 shares during the period. Krilogy Financial LLC’s holdings in Kirby were worth $1,021,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of KEX. Alliancebernstein L.P. lifted its stake in shares of Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after purchasing an additional 959,209 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Kirby during the fourth quarter worth about $58,385,000. Appian Way Asset Management LP increased its position in shares of Kirby by 335.8% during the third quarter. Appian Way Asset Management LP now owns 675,546 shares of the shipping company’s stock worth $56,374,000 after acquiring an additional 520,535 shares during the last quarter. Millennium Management LLC increased its position in shares of Kirby by 108.4% during the third quarter. Millennium Management LLC now owns 839,662 shares of the shipping company’s stock worth $70,070,000 after acquiring an additional 436,735 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Kirby by 438.7% during the third quarter. American Century Companies Inc. now owns 271,499 shares of the shipping company’s stock worth $22,657,000 after acquiring an additional 221,100 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
Kirby Stock Up 0.6%
Shares of NYSE KEX opened at $143.74 on Wednesday. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $147.48. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 1.53. The stock’s 50-day simple moving average is $132.58 and its 200-day simple moving average is $117.45.
Kirby (NYSE:KEX – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. The firm had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.Kirby’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. As a group, equities analysts anticipate that Kirby Corporation will post 6.81 earnings per share for the current fiscal year.
Analysts Set New Price Targets
KEX has been the topic of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and set a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. Evercore reaffirmed an “outperform” rating and set a $138.00 target price on shares of Kirby in a research report on Monday, March 9th. BTIG Research lifted their target price on Kirby from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Citigroup lifted their target price on Kirby from $147.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and an average target price of $140.20.
Read Our Latest Research Report on KEX
Insider Transactions at Kirby
In related news, VP Scott P. Miller sold 3,960 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total value of $477,892.80. Following the completion of the sale, the vice president directly owned 3,565 shares of the company’s stock, valued at $430,224.20. The trade was a 52.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Christian G. O’neil sold 11,287 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $132.34, for a total value of $1,493,721.58. Following the completion of the sale, the chief operating officer directly owned 11,287 shares of the company’s stock, valued at approximately $1,493,721.58. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,495 shares of company stock valued at $9,226,173 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.
About Kirby
Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.
In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.
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