Assenagon Asset Management S.A. Boosts Holdings in Kirby Co. (NYSE:KEX)

Assenagon Asset Management S.A. raised its stake in Kirby Co. (NYSE:KEX) by 47.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,102 shares of the shipping company’s stock after acquiring an additional 44,858 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Kirby were worth $17,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in Kirby by 0.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock valued at $2,792,000 after purchasing an additional 108 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Kirby by 1.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock valued at $988,000 after buying an additional 122 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Kirby by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock worth $523,000 after acquiring an additional 133 shares during the period. 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 worth $35,000 after acquiring an additional 141 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Kirby by 56.1% in the 1st quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 143 shares during the period. 96.15% of the stock is owned by institutional investors.

Insider Activity 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 shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares of the company’s stock, valued at $1,772,066.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the transaction, the chief operating officer now directly owns 16,079 shares in the company, valued at approximately $1,772,066.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,012 shares of company stock valued at $5,571,267 over the last three months. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Performance

NYSE KEX opened at $125.50 on Friday. The stock has a market capitalization of $7.27 billion, a PE ratio of 26.65, a P/E/G ratio of 0.75 and a beta of 1.17. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $130.90. The company’s 50 day simple moving average is $120.63 and its two-hundred day simple moving average is $117.49. 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 (NYSE:KEX) last announced its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The business had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same period in the prior year, the company earned $0.95 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts predict that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on KEX. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the company 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 stock. Based on data from MarketBeat, Kirby presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

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.