Kirby Co. (NYSE:KEX) Shares Purchased by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP grew its stake in shares of Kirby Co. (NYSE:KEX) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,000 shares of the shipping company’s stock after acquiring an additional 15,000 shares during the quarter. Davidson Kempner Capital Management LP owned about 0.26% of Kirby worth $18,558,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KEX. International Assets Investment Management LLC purchased a new position in Kirby during the second quarter worth approximately $26,000. ORG Partners LLC acquired a new stake in shares of Kirby during the 2nd quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Kirby in the 2nd quarter worth $33,000. Blue Trust Inc. boosted its holdings in Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 141 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Kirby in the second quarter valued at $37,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,627,533.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of 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. In the last three months, insiders sold 49,012 shares of company stock valued at $5,932,197. Corporate insiders own 1.50% of the company’s stock.

Kirby Trading Down 2.0 %

Shares of KEX opened at $124.50 on Monday. 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 Co. has a 12 month low of $72.11 and a 12 month high of $130.90. The stock has a market cap of $7.29 billion, a PE ratio of 29.43, a P/E/G ratio of 0.71 and a beta of 1.17. The stock’s 50-day moving average is $118.51 and its two-hundred day moving average is $112.35.

Kirby (NYSE:KEX) last released its quarterly 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. The firm had revenue of $824.40 million during the quarter, compared to analysts’ expectations of $821.65 million. Kirby had a return on equity of 8.70% and a net margin of 8.72%. Kirby’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Equities analysts forecast that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a report on Sunday. Bank of America raised their price target 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 analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and an average price target 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.