Susquehanna Fundamental Investments LLC Has $8.46 Million Position in Kirby Co. (NYSE:KEX)

Susquehanna Fundamental Investments LLC boosted its position in shares of Kirby Co. (NYSE:KEX) by 53.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,691 shares of the shipping company’s stock after buying an additional 24,560 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.12% of Kirby worth $8,464,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Park West Asset Management LLC bought a new stake in shares of Kirby during the fourth quarter worth $61,824,000. Select Equity Group L.P. acquired a new stake in Kirby in the second quarter worth about $65,928,000. Lord Abbett & CO. LLC bought a new stake in Kirby during the 1st quarter worth about $22,877,000. Encompass Capital Advisors LLC lifted its position in Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after purchasing an additional 224,802 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Kirby by 21.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock valued at $85,432,000 after purchasing an additional 157,880 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Insider Transactions at Kirby

In related news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. The disclosure for this sale can be found here. Insiders have sold a total of 46,012 shares of company stock valued at $5,571,267 over the last 90 days. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of 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 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 stock. According to data from MarketBeat.com, Kirby currently has an average rating of “Moderate Buy” and an average price target of $123.80.

Kirby Stock Performance

Shares of NYSE:KEX opened at $125.33 on Friday. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 0.77 and a beta of 1.17. The firm’s 50 day simple moving average is $118.48 and its 200 day simple moving average is $113.27. 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 fifty-two week low of $72.11 and a fifty-two week high of $130.90.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The business had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same quarter last year, the business posted $0.95 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Kirby Co. will post 5.46 earnings per share for the current 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.