3,552 Shares in Kirby Co. (NYSE:KEX) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in Kirby Co. (NYSE:KEX) in the second quarter, Holdings Channel.com reports. The firm bought 3,552 shares of the shipping company’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in Kirby during the 2nd quarter worth about $26,000. ORG Partners LLC acquired a new stake in Kirby during the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new stake in Kirby during the 2nd quarter worth about $33,000. Blue Trust Inc. grew its position in Kirby by 91.0% during the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Kirby during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Bank of America raised 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kirby has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Price Performance

NYSE:KEX opened at $125.33 on Friday. The stock has a market capitalization of $7.33 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90. The stock’s 50-day moving average price is $118.43 and its 200-day moving average price is $113.00. 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 (NYSE:KEX) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The firm had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.70%. Kirby’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. As a group, equities analysts expect that Kirby Co. will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The disclosure for this sale can be found here. Insiders have sold 46,012 shares of company stock valued at $5,571,267 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

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.