Ramsey Quantitative Systems Invests $447,000 in Kirby Corporation (KEX)
Ramsey Quantitative Systems purchased a new position in shares of Kirby Corporation (NYSE:KEX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,728 shares of the company’s stock, valued at approximately $447,000.
Several other large investors have also recently added to or reduced their stakes in the stock. State Treasurer State of Michigan boosted its position in Kirby Corporation by 0.5% in the third quarter. State Treasurer State of Michigan now owns 21,700 shares of the company’s stock worth $1,349,000 after buying an additional 100 shares during the last quarter. AMG National Trust Bank boosted its position in Kirby Corporation by 1.3% in the third quarter. AMG National Trust Bank now owns 9,097 shares of the company’s stock worth $565,000 after buying an additional 114 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Kirby Corporation by 5.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 2,625 shares of the company’s stock worth $163,000 after buying an additional 125 shares during the last quarter. LS Investment Advisors LLC boosted its position in Kirby Corporation by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,507 shares of the company’s stock worth $218,000 after buying an additional 185 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Kirby Corporation by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,882 shares of the company’s stock worth $117,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.
Shares of Kirby Corporation (NYSE:KEX) traded down 1.60% during mid-day trading on Thursday, hitting $70.90. The stock had a trading volume of 316,761 shares. The firm has a 50 day moving average of $67.25 and a 200-day moving average of $61.69. Kirby Corporation has a one year low of $50.80 and a one year high of $73.40. The stock has a market cap of $3.82 billion, a P/E ratio of 27.06 and a beta of 1.09.
Kirby Corporation (NYSE:KEX) last posted its earnings results on Wednesday, February 1st. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $403.52 million. Kirby Corporation had a return on equity of 6.01% and a net margin of 7.99%. Kirby Corporation’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. Equities research analysts expect that Kirby Corporation will post $2.04 earnings per share for the current fiscal year.
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A number of research analysts have recently weighed in on KEX shares. Zacks Investment Research cut Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Seaport Global Securities started coverage on Kirby Corporation in a research report on Thursday, November 10th. They set a “neutral” rating and a $55.00 price objective on the stock. Stephens cut Kirby Corporation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $70.00 to $68.00 in a research report on Monday, November 28th. OTR Global raised Kirby Corporation to a “neutral” rating in a research report on Wednesday, January 18th. Finally, Jefferies Group LLC lifted their price objective on Kirby Corporation from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $62.46.
In related news, insider Dorman Lynn Strahan sold 2,529 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $71.78, for a total transaction of $181,531.62. Following the sale, the insider now directly owns 32,501 shares of the company’s stock, valued at $2,332,921.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William G. Ivey sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $67.82, for a total value of $135,640.00. Following the sale, the insider now directly owns 23,888 shares in the company, valued at $1,620,084.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,783 shares of company stock worth $472,021. 2.60% of the stock is owned by corporate insiders.
About Kirby Corporation
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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