Kirby Co. (NYSE:KEX) Shares Purchased by Natixis Advisors L.P.

Posted by on Apr 15th, 2023

Natixis Advisors L.P. boosted its position in Kirby Co. (NYSE:KEX – Get Rating) by 95.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,898 shares of the shipping company’s stock after purchasing an additional 46,759 shares during the period. Natixis Advisors L.P. owned about 0.16% of Kirby worth $6,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its position in Kirby by 1.3% in the fourth quarter. State of Michigan Retirement System now owns 15,259 shares of the shipping company’s stock valued at $982,000 after purchasing an additional 200 shares during the period. AMG National Trust Bank lifted its position in Kirby by 2.1% in the third quarter. AMG National Trust Bank now owns 12,815 shares of the shipping company’s stock valued at $779,000 after purchasing an additional 266 shares during the period. Cullen Frost Bankers Inc. lifted its position in Kirby by 1.5% in the third quarter. Cullen Frost Bankers Inc. now owns 19,999 shares of the shipping company’s stock valued at $1,215,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its position in Kirby by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 25,577 shares of the shipping company’s stock valued at $1,554,000 after purchasing an additional 330 shares during the period. Finally, Jane Street Group LLC lifted its position in Kirby by 4.0% in the first quarter. Jane Street Group LLC now owns 9,181 shares of the shipping company’s stock valued at $663,000 after purchasing an additional 349 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Kirby Price Performance

NYSE KEX opened at $69.48 on Friday. Kirby Co. has a 52 week low of $55.03 and a 52 week high of $76.34. The company has a current ratio of 1.89, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. The company has a 50-day moving average price of $70.69 and a two-hundred day moving average price of $67.65.

Kirby (NYSE:KEX – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The shipping company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. The business had revenue of $730.17 million during the quarter, compared to analysts’ expectations of $714.06 million. Kirby had a net margin of 4.39% and a return on equity of 4.27%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. Analysts forecast that Kirby Co. will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

KEX has been the subject of a number of research analyst reports. StockNews.com started coverage on shares of Kirby in a report on Thursday, March 16th. They issued a “hold” rating for the company. TheStreet upgraded shares of Kirby from a “c+” rating to a “b-” rating in a report on Monday, March 13th. Bank of America lifted their price target on shares of Kirby from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, February 7th. BTIG Research lifted their price target on shares of Kirby from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 6th. Finally, Stephens boosted their target price on shares of Kirby from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.33.

Insider Buying and Selling

In related news, insider Christian G. O’neil sold 8,660 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $73.02, for a total value of $632,353.20. Following the completion of the sale, the insider now owns 15,811 shares in the company, valued at approximately $1,154,519.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Christian G. O’neil sold 8,660 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $73.02, for a total value of $632,353.20. Following the completion of the sale, the insider now owns 15,811 shares in the company, valued at approximately $1,154,519.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $72.82, for a total transaction of $109,230.00. Following the completion of the sale, the vice president now owns 12,144 shares of the company’s stock, valued at approximately $884,326.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,316 shares of company stock worth $1,839,789. Corporate insiders own 1.50% of the company’s stock.

Kirby Profile

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Kirby Corp. is a tank barge operator, which engages in transporting bulk liquid products. It transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals. It operates through Marine Transportation and Distribution and Services segments. The Marine Transportation segment provides marine transportation by United States flagged vessels principally of liquid cargoes throughout the United States inland waterway system.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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