Pallas Capital Advisors LLC Takes Position in Kirby Co. (NYSE:KEX)

Pallas Capital Advisors LLC bought a new stake in shares of Kirby Co. (NYSE:KEX) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,948 shares of the shipping company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KEX. International Assets Investment Management LLC purchased a new position in shares of Kirby during the 2nd quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in Kirby during the third quarter worth $30,000. ORG Partners LLC bought a new position in Kirby during the second quarter worth $32,000. Opal Wealth Advisors LLC bought a new position in Kirby during the second quarter worth $33,000. Finally, Blue Trust Inc. lifted its stake in Kirby by 91.0% during the second 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 last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Performance

KEX stock opened at $114.30 on Friday. 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 stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 0.71 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 stock’s fifty day moving average is $120.84 and its two-hundred day moving average is $117.94.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. On average, research analysts predict that Kirby Co. will post 5.46 EPS for the current year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Christian G. O’neil sold 14,031 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total transaction of $1,729,881.99. Following the transaction, the chief operating officer now directly owns 12,746 shares of the company’s stock, valued at approximately $1,571,454.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 in the company, valued at $668,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KEX has been the topic of several research analyst reports. Bank of America raised their price objective on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.80.

Kirby Company 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.