Arizona State Retirement System raised its position in Kirby Co. (NYSE:KEX) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,262 shares of the shipping company’s stock after acquiring an additional 960 shares during the period. Arizona State Retirement System’s holdings in Kirby were worth $3,147,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in shares of Kirby by 8.0% in the first quarter. UBS Group AG now owns 10,464 shares of the shipping company’s stock valued at $805,000 after purchasing an additional 773 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Kirby in the first quarter valued at approximately $193,000. Millennium Management LLC bought a new position in shares of Kirby in the first quarter valued at approximately $1,502,000. Principal Financial Group Inc. lifted its holdings in shares of Kirby by 10.6% in the first quarter. Principal Financial Group Inc. now owns 431,095 shares of the shipping company’s stock valued at $33,173,000 after purchasing an additional 41,244 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Kirby in the first quarter valued at approximately $691,000. Institutional investors own 90.03% of the company’s stock.
Shares of KEX opened at $76.01 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 1.17. The company has a market cap of $4.54 billion, a P/E ratio of 37.08, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. Kirby Co. has a 12 month low of $61.80 and a 12 month high of $94.05.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, October 25th. The shipping company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. The company had revenue of $704.85 million during the quarter, compared to the consensus estimate of $780.20 million. Kirby had a return on equity of 5.05% and a net margin of 11.30%. On average, equities research analysts predict that Kirby Co. will post 2.82 EPS for the current year.
KEX has been the topic of a number of recent research reports. Gabelli upgraded Kirby from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Monday, July 30th. ValuEngine upgraded Kirby from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Zacks Investment Research lowered Kirby from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Wells Fargo & Co dropped their target price on Kirby from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $89.25.
In related news, Director J H. Pyne sold 52,934 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $87.88, for a total transaction of $4,651,839.92. Following the completion of the sale, the director now directly owns 225,233 shares of the company’s stock, valued at $19,793,476.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian G. O’neil sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $86.75, for a total value of $130,125.00. The disclosure for this sale can be found here. Insiders have sold 57,604 shares of company stock valued at $5,057,375 over the last ninety days. 2.40% of the stock is currently owned by company insiders.
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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