Atria Investments Inc Boosts Stock Position in Kirby Co. (NYSE:KEX)

Atria Investments Inc increased its position in Kirby Co. (NYSE:KEX) by 27.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,353 shares of the shipping company’s stock after acquiring an additional 7,629 shares during the quarter. Atria Investments Inc’s holdings in Kirby were worth $4,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEX. Select Equity Group L.P. purchased a new stake in shares of Kirby in the second quarter worth $65,928,000. Lord Abbett & CO. LLC bought a new stake in Kirby during the first quarter valued at about $22,877,000. Encompass Capital Advisors LLC lifted its position in shares of Kirby by 33.9% in the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after acquiring an additional 224,802 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Kirby in the third quarter valued at about $22,106,000. Finally, F M Investments LLC bought a new position in shares of Kirby in the second quarter worth about $14,185,000. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,555 shares of company stock valued at $5,560,430. 1.50% of the stock is currently owned by insiders.

Kirby Trading Down 0.3 %

KEX stock opened at $130.19 on Wednesday. The firm has a fifty day moving average price of $121.37 and a 200 day moving average price of $119.34. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $132.04. The firm has a market cap of $7.54 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.75 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.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.49%. The firm had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same period in the previous year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Kirby Co. will post 5.44 earnings per share for the current fiscal year.

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.