First Dallas Securities Inc. Raises Stock Holdings in Kirby Corporation $KEX

First Dallas Securities Inc. boosted its position in shares of Kirby Corporation (NYSE:KEX) by 25.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,525 shares of the shipping company’s stock after buying an additional 7,390 shares during the quarter. Kirby makes up about 1.1% of First Dallas Securities Inc.’s holdings, making the stock its 25th biggest holding. First Dallas Securities Inc.’s holdings in Kirby were worth $3,048,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc purchased a new position in shares of Kirby in the second quarter valued at about $29,000. First Horizon Corp bought a new stake in shares of Kirby in the third quarter worth about $30,000. Bell Investment Advisors Inc grew its stake in shares of Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after purchasing an additional 114 shares during the last quarter. True Wealth Design LLC increased its holdings in Kirby by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 308 shares during the period. Finally, Frazier Financial Advisors LLC raised its position in Kirby by 559.3% during the 3rd quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analyst Ratings Changes

KEX has been the subject of several research analyst reports. Wolfe Research reiterated an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Evercore upped their price objective on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Citigroup raised their target price on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.40.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 29,451 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the sale, the chief executive officer owned 79,709 shares of the company’s stock, valued at $8,561,543.69. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy D. Husted sold 10,413 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the sale, the vice president owned 11,760 shares in the company, valued at approximately $1,263,259.20. This trade represents a 46.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,576 shares of company stock worth $6,866,882 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Kirby Price Performance

Shares of KEX stock opened at $122.61 on Friday. The business’s fifty day moving average is $117.87 and its 200 day moving average is $103.80. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.08 and a beta of 0.88. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $132.18.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The business had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal 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.