Cubist Systematic Strategies LLC Acquires New Stake in Kirby Co. (KEX)
Cubist Systematic Strategies LLC bought a new stake in Kirby Co. (NYSE:KEX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,701 shares of the shipping company’s stock, valued at approximately $310,000.
A number of other institutional investors have also added to or reduced their stakes in KEX. Diamond Hill Capital Management Inc. grew its position in Kirby by 40.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,491,202 shares of the shipping company’s stock valued at $164,295,000 after purchasing an additional 713,836 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Kirby by 65.9% in the second quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock valued at $52,721,000 after purchasing an additional 313,184 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Kirby by 12.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock valued at $143,380,000 after purchasing an additional 246,064 shares in the last quarter. Koch Industries Inc. bought a new position in Kirby in the second quarter valued at $216,000. Finally, Atlanta Capital Management Co. L L C grew its position in Kirby by 5.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,472,441 shares of the shipping company’s stock valued at $298,983,000 after purchasing an additional 213,303 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.
Shares of Kirby Co. (NYSE KEX) opened at $68.95 on Friday. The company has a market cap of $4,100.00, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 3.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. Kirby Co. has a 12 month low of $59.25 and a 12 month high of $74.50.
Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. equities research analysts expect that Kirby Co. will post 2.02 EPS for the current year.
A number of brokerages have commented on KEX. Jefferies Group reiterated a “buy” rating and issued a $85.00 price target on shares of Kirby in a research note on Monday, October 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price target on shares of Kirby in a research note on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Kirby from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.40.
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Kirby Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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