Cwm LLC Increases Stake in Kirby Co. (NYSE:KEX)

Cwm LLC grew its stake in Kirby Co. (NYSE:KEX) by 186.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,474 shares of the shipping company’s stock after purchasing an additional 2,260 shares during the period. Cwm LLC’s holdings in Kirby were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its holdings in Kirby by 0.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock valued at $2,792,000 after buying an additional 108 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Kirby by 1.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock valued at $988,000 after purchasing an additional 122 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Kirby by 3.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock valued at $523,000 after purchasing an additional 133 shares in the last quarter. Blue Trust Inc. raised its holdings in Kirby by 91.0% in the 2nd 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 period. Finally, 1832 Asset Management L.P. boosted its position in Kirby by 56.1% during the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock worth $38,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the company’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 transaction, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Amy D. Husted sold 2,853 shares of the 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 transaction, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,012 shares of company stock valued at $5,571,267. Company insiders own 1.50% of the company’s stock.

Kirby Price Performance

Kirby stock opened at $122.24 on Monday. The stock has a market cap of $7.15 billion, a P/E ratio of 28.90, a PEG ratio of 0.75 and a beta of 1.17. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $120.08 and a 200 day moving average price of $116.78. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $130.90.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The firm had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same period in the previous year, the firm earned $0.95 EPS. Kirby’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate 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.