Sei Investments Co. Raises Stake in Kirby Co. (NYSE:KEX)

Sei Investments Co. grew its stake in shares of Kirby Co. (NYSE:KEX) by 46.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,062 shares of the shipping company’s stock after purchasing an additional 31,229 shares during the quarter. Sei Investments Co. owned approximately 0.17% of Kirby worth $11,742,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KEX. Janney Montgomery Scott LLC boosted its stake in shares of Kirby by 18.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,247 shares of the shipping company’s stock valued at $804,000 after purchasing an additional 1,610 shares during the period. Quest Partners LLC purchased a new stake in shares of Kirby during the fourth quarter valued at $58,000. Orion Portfolio Solutions LLC boosted its stake in shares of Kirby by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after purchasing an additional 124 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Kirby by 291.5% during the fourth quarter. Hsbc Holdings PLC now owns 43,868 shares of the shipping company’s stock valued at $3,426,000 after purchasing an additional 32,664 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in shares of Kirby by 90,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,715 shares of the shipping company’s stock valued at $235,000 after purchasing an additional 2,712 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction dated 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 $1,772,066.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at $1,772,066.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Performance

Shares of Kirby stock opened at $125.33 on Friday. The company has a market capitalization of $7.33 billion, a PE ratio of 29.63, a P/E/G ratio of 0.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. The company has a 50-day simple moving average of $118.43 and a two-hundred day simple moving average of $113.00. Kirby Co. has a one year low of $72.11 and a one year high of $130.90.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KEX shares. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America upped their price objective 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kirby has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

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.