Schwab Charles Investment Management Inc. boosted its holdings in Kirby Co. (NYSE:KEX) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,733 shares of the shipping company’s stock after purchasing an additional 14,810 shares during the period. Schwab Charles Investment Management Inc. owned about 0.52% of Kirby worth $25,978,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Greenwood Capital Associates LLC purchased a new position in Kirby in the second quarter worth $206,000. Cubist Systematic Strategies LLC purchased a new position in Kirby in the first quarter worth $193,000. Campbell & CO Investment Adviser LLC purchased a new position in Kirby in the second quarter worth $225,000. Trust Co purchased a new position in Kirby in the first quarter worth $210,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Kirby in the first quarter worth $222,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on KEX. ValuEngine raised Kirby from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. Gabelli raised Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Monday, July 30th. Zacks Investment Research cut Kirby from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Stifel Nicolaus upped their price target on Kirby from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, May 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $90.50.
Shares of NYSE KEX opened at $79.60 on Friday. Kirby Co. has a one year low of $61.80 and a one year high of $94.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 1.86. The firm has a market cap of $5.03 billion, a PE ratio of 33.45, a PEG ratio of 2.22 and a beta of 0.93.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 25th. The shipping company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. Kirby had a return on equity of 4.77% and a net margin of 11.49%. The firm had revenue of $802.70 million for the quarter, compared to analysts’ expectations of $765.43 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up 69.6% compared to the same quarter last year. research analysts expect that Kirby Co. will post 2.84 EPS for the current fiscal year.
In related news, VP Ronald A. Dragg sold 500 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $85.00, for a total transaction of $42,500.00. Following the sale, the vice president now owns 10,968 shares of the company’s stock, valued at approximately $932,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J H. Pyne sold 52,934 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $87.88, for a total value of $4,651,839.92. Following the sale, the director now directly owns 225,233 shares in the company, valued at approximately $19,793,476.04. The disclosure for this sale can be found here. Insiders have sold a total of 58,104 shares of company stock worth $5,099,875 in the last ninety days. Insiders own 2.40% of the company’s stock.
Kirby Company Profile
Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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