Point72 Hong Kong Ltd Purchases New Position in Kirby Co. (NYSE:KEX)

Point72 Hong Kong Ltd purchased a new position in shares of Kirby Co. (NYSE:KEX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,269 shares of the shipping company’s stock, valued at approximately $1,828,000.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Kirby in the 2nd quarter valued at about $26,000. ORG Partners LLC acquired a new stake in shares of Kirby during the 2nd quarter worth $32,000. Opal Wealth Advisors LLC bought a new position in shares of Kirby in the second quarter worth $33,000. Blue Trust Inc. increased its holdings in Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after buying an additional 141 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Kirby during the 2nd quarter worth approximately $37,000. 96.15% of the stock is currently owned by institutional investors.

Kirby Stock Performance

Shares of KEX stock opened at $123.45 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. Kirby Co. has a one year low of $72.11 and a one year high of $130.90. The business’s 50 day simple moving average is $118.42 and its 200 day simple moving average is $112.93. The stock has a market capitalization of $7.22 billion, a PE ratio of 29.18, a PEG ratio of 0.77 and a beta of 1.17.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a report on Sunday. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Insider Activity at Kirby

In other Kirby news, COO Christian G. O’neil sold 2,770 shares of Kirby stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David W. Grzebinski sold 26,358 shares of the business’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 transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. The disclosure for this sale can be found here. Insiders have sold a total of 46,012 shares of company stock worth $5,571,267 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Kirby 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.