1,729 Shares in Kirby Co. (NYSE:KEX) Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc bought a new position in Kirby Co. (NYSE:KEX) during the second quarter, Holdings Channel reports. The firm bought 1,729 shares of the shipping company’s stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in the company. Park West Asset Management LLC purchased a new stake in Kirby during the fourth quarter valued at approximately $61,824,000. Norges Bank bought a new position in shares of Kirby during the 4th quarter valued at approximately $51,781,000. Lord Abbett & CO. LLC bought a new position in shares of Kirby during the 1st quarter valued at approximately $22,877,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Kirby by 21.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock valued at $85,432,000 after purchasing an additional 157,880 shares during the last quarter. Finally, F M Investments LLC bought a new position in shares of Kirby during the 2nd quarter valued at approximately $14,185,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of Kirby stock opened at $114.55 on Tuesday. The stock’s fifty day moving average is $118.70 and its two-hundred day moving average is $110.11. The company has a market capitalization of $6.63 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The company had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same quarter in the prior year, the company posted $0.95 EPS. Kirby’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that Kirby Co. will post 5.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KEX has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Bank of America boosted their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and an average price target of $123.80.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 2,770 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Christian G. O’neil sold 2,770 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Grzebinski sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total value of $360,930.00. Following the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.