Resolute Capital Asset Partners LLC Has $2.99 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Resolute Capital Asset Partners LLC increased its position in shares of Kirby Co. (NYSE:KEX) by 25.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the shipping company’s stock after acquiring an additional 5,000 shares during the quarter. Kirby comprises approximately 1.7% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 23rd biggest holding. Resolute Capital Asset Partners LLC’s holdings in Kirby were worth $2,993,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KEX. Schroder Investment Management Group increased its holdings in shares of Kirby by 12.2% in the fourth quarter. Schroder Investment Management Group now owns 630,360 shares of the shipping company’s stock worth $49,471,000 after acquiring an additional 68,420 shares in the last quarter. Scout Investments Inc. grew its position in shares of Kirby by 66.5% in the 1st quarter. Scout Investments Inc. now owns 108,814 shares of the shipping company’s stock valued at $10,299,000 after purchasing an additional 43,465 shares during the period. Quadrature Capital Ltd increased its stake in Kirby by 166.6% during the 4th quarter. Quadrature Capital Ltd now owns 10,934 shares of the shipping company’s stock worth $859,000 after purchasing an additional 6,832 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in 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 worth $85,432,000 after buying an additional 157,880 shares during the period. Finally, Sei Investments Co. raised its holdings in Kirby by 32.4% during the 1st quarter. Sei Investments Co. now owns 66,833 shares of the shipping company’s stock worth $6,371,000 after buying an additional 16,373 shares during the period. Institutional investors and hedge funds own 96.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on KEX. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Bank of America upped their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kirby presently has a consensus rating of “Buy” and a consensus target price of $123.80.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the company’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 sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,128 shares of company stock valued at $3,841,296. 1.50% of the stock is owned by insiders.

Kirby Price Performance

NYSE KEX opened at $123.08 on Thursday. The firm’s 50 day moving average is $118.33 and its 200-day moving average is $111.67. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $7.20 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $130.90.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The firm had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same period in the previous year, the business earned $0.95 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

About Kirby

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.