SG Americas Securities LLC Takes $2.33 Million Position in Kirby Co. (NYSE:KEX)

Posted by on Jul 22nd, 2023

SG Americas Securities LLC acquired a new stake in shares of Kirby Co. (NYSE:KEX – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,379 shares of the shipping company’s stock, valued at approximately $2,327,000. SG Americas Securities LLC owned about 0.06% of Kirby at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its position in shares of Kirby by 11.0% during the first quarter. Janney Montgomery Scott LLC now owns 10,321 shares of the shipping company’s stock valued at $719,000 after buying an additional 1,021 shares during the period. Oak Thistle LLC purchased a new position in shares of Kirby during the first quarter valued at about $223,000. Jennison Associates LLC increased its position in shares of Kirby by 9.9% during the first quarter. Jennison Associates LLC now owns 1,145,535 shares of the shipping company’s stock valued at $79,844,000 after buying an additional 102,839 shares during the period. Mackenzie Financial Corp raised its holdings in Kirby by 14.6% in the first quarter. Mackenzie Financial Corp now owns 14,065 shares of the shipping company’s stock worth $980,000 after purchasing an additional 1,796 shares in the last quarter. Finally, Shaker Investments LLC OH raised its holdings in Kirby by 37.8% in the first quarter. Shaker Investments LLC OH now owns 51,805 shares of the shipping company’s stock worth $3,611,000 after purchasing an additional 14,216 shares in the last quarter. 94.14% of the stock is owned by hedge funds and other institutional investors.

Kirby Price Performance

Shares of NYSE:KEX opened at $77.28 on Friday. Kirby Co. has a 1-year low of $57.64 and a 1-year high of $77.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.18. The business has a fifty day moving average price of $74.52 and a 200-day moving average price of $71.01. The company has a market capitalization of $4.64 billion, a PE ratio of 31.93, a PEG ratio of 1.76 and a beta of 1.26.

Kirby (NYSE:KEX – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Kirby had a return on equity of 4.99% and a net margin of 4.98%. The firm had revenue of $750.44 million during the quarter, compared to the consensus estimate of $723.67 million. During the same period last year, the company earned $0.29 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. As a group, equities analysts expect that Kirby Co. will post 3.58 EPS for the current fiscal year.

Insider Activity

In other news, VP Scott P. Miller sold 607 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $74.48, for a total transaction of $45,209.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Scott P. Miller sold 607 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $74.48, for a total transaction of $45,209.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Grzebinski sold 4,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $76.69, for a total value of $306,760.00. Following the sale, the chief executive officer now directly owns 74,006 shares in the company, valued at $5,675,520.14. The disclosure for this sale can be found here. Insiders have sold a total of 12,107 shares of company stock worth $906,309 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com assumed coverage on Kirby in a report on Thursday, May 18th. They issued a “hold” rating for the company. Stifel Nicolaus upped their price objective on shares of Kirby from $83.00 to $85.00 in a report on Friday, April 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Kirby presently has a consensus rating of “Moderate Buy” and an average price target of $86.75.

Kirby Profile

(Free Report)

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

See Also

Institutional Ownership by Quarter for Kirby (NYSE:KEX)

Receive News & Ratings for Kirby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby and related companies with MarketBeat.com's FREE daily email newsletter.