12,905 Shares in Kirby Corporation $KEX Purchased by Oak Thistle LLC

Oak Thistle LLC acquired a new position in shares of Kirby Corporation (NYSE:KEX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,905 shares of the shipping company’s stock, valued at approximately $1,422,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEX. Alliancebernstein L.P. increased its position in Kirby by 72.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after purchasing an additional 959,209 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Kirby during the 4th quarter worth about $58,385,000. Appian Way Asset Management LP increased its position in Kirby by 335.8% during the 3rd quarter. Appian Way Asset Management LP now owns 675,546 shares of the shipping company’s stock worth $56,374,000 after purchasing an additional 520,535 shares in the last quarter. Millennium Management LLC increased its position in Kirby by 108.4% during the 3rd quarter. Millennium Management LLC now owns 839,662 shares of the shipping company’s stock worth $70,070,000 after purchasing an additional 436,735 shares in the last quarter. Finally, Encompass Capital Advisors LLC increased its position in Kirby by 32.4% during the 2nd quarter. Encompass Capital Advisors LLC now owns 1,225,338 shares of the shipping company’s stock worth $138,966,000 after purchasing an additional 299,981 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analyst Ratings Changes

KEX has been the topic of several recent analyst reports. Evercore reiterated an “outperform” rating and set a $138.00 target price on shares of Kirby in a research report on Monday, March 9th. BTIG Research reduced their target price on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Citigroup increased their target price on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and set a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. Finally, Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.60.

Insider Buying and Selling at Kirby

In related news, COO Christian G. O’neil sold 11,287 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $132.34, for a total transaction of $1,493,721.58. Following the completion of the sale, the chief operating officer owned 11,287 shares of the company’s stock, valued at approximately $1,493,721.58. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the sale, the vice president directly owned 3,565 shares of the company’s stock, valued at approximately $430,224.20. This trade represents a 52.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 71,495 shares of company stock worth $9,226,173. Company insiders own 0.80% of the company’s stock.

Kirby Stock Performance

NYSE KEX opened at $140.66 on Thursday. The business’s 50-day moving average price is $128.64 and its 200 day moving average price is $113.56. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $142.30. The company has a market capitalization of $7.54 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.06. The firm had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. On average, research analysts predict that Kirby Corporation will post 6.57 earnings per share for the current year.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.