Texas Permanent School Fund trimmed its holdings in Kirby Co. (NYSE:KEX – Get Rating) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,267 shares of the shipping company’s stock after selling 2,815 shares during the period. Texas Permanent School Fund owned 0.07% of Kirby worth $2,591,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in KEX. Wipfli Financial Advisors LLC acquired a new position in shares of Kirby in the 3rd quarter valued at about $28,000. Point72 Hong Kong Ltd acquired a new position in Kirby during the 1st quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kirby by 28.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,255 shares of the shipping company’s stock worth $145,000 after acquiring an additional 506 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Kirby in the 1st quarter valued at approximately $201,000. Finally, Ergoteles LLC acquired a new position in shares of Kirby in the 1st quarter valued at approximately $221,000. 94.94% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Kirby
In other Kirby news, VP Amy D. Husted sold 7,406 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $72.89, for a total value of $539,823.34. Following the sale, the vice president now owns 14,072 shares of the company’s stock, valued at approximately $1,025,708.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Kirby news, VP Amy D. Husted sold 7,406 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $72.89, for a total value of $539,823.34. Following the sale, the vice president now owns 14,072 shares of the company’s stock, valued at approximately $1,025,708.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Raj Kumar sold 2,000 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $73.00, for a total transaction of $146,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,966 shares in the company, valued at approximately $435,518. The disclosure for this sale can be found here. Insiders have sold 15,156 shares of company stock valued at $1,098,206 in the last 90 days. 1.50% of the stock is currently owned by company insiders.
Kirby Trading Down 0.7 %
Kirby (NYSE:KEX – Get Rating) last announced its earnings results on Thursday, April 27th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Kirby had a net margin of 4.98% and a return on equity of 5.03%. The business had revenue of $750.44 million for the quarter, compared to analyst estimates of $723.67 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Kirby’s revenue was up 22.9% compared to the same quarter last year. As a group, sell-side analysts predict that Kirby Co. will post 3.55 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on KEX. StockNews.com began coverage on Kirby in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Bank of America increased their price target on Kirby from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. BTIG Research increased their price target on Kirby from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Stephens increased their price target on Kirby from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, February 1st. Finally, TheStreet raised Kirby from a “c+” rating to a “b-” rating in a research note on Monday, March 13th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.75.
Kirby Company Profile
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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