12,905 Shares in Kirby Corporation $KEX Acquired by Oak Thistle LLC
by Amy Steele · The Cerbat GemOak Thistle LLC bought a new position in shares of Kirby Corporation (NYSE:KEX – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,905 shares of the shipping company’s stock, valued at approximately $1,422,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Wyoming raised its stake in shares of Kirby by 12.8% in the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after buying an additional 114 shares in the last quarter. Xponance Inc. raised its stake in shares of Kirby by 1.8% in the 3rd quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock worth $568,000 after buying an additional 118 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of Kirby by 4.6% in the 4th quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company’s stock worth $301,000 after buying an additional 121 shares in the last quarter. Huntington National Bank raised its stake in shares of Kirby by 21.0% in the 3rd quarter. Huntington National Bank now owns 932 shares of the shipping company’s stock worth $78,000 after buying an additional 162 shares in the last quarter. Finally, Logan Capital Management Inc. raised its stake in shares of Kirby by 4.3% in the 3rd quarter. Logan Capital Management Inc. now owns 4,213 shares of the shipping company’s stock worth $352,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on KEX. Evercore reissued an “outperform” rating and issued a $138.00 price objective on shares of Kirby in a research note on Monday, March 9th. Citigroup boosted their price objective on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wolfe Research reissued an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, BTIG Research cut their target price on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and an average target price of $132.60.
Insider Activity at Kirby
In related news, CEO David W. Grzebinski sold 34,152 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the transaction, the chief executive officer directly owned 98,241 shares of the company’s stock, valued at approximately $12,776,242.05. The trade was a 25.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy D. Husted sold 11,667 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the transaction, the vice president directly owned 14,814 shares in the company, valued at $1,915,894.62. The trade was a 44.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,495 shares of company stock valued at $9,226,173 over the last ninety days. Company insiders own 0.80% of the company’s stock.
Kirby Stock Up 0.1%
Shares of Kirby stock opened at $140.66 on Thursday. The stock’s fifty day moving average is $128.64 and its 200-day moving average is $113.56. The firm has a market capitalization of $7.54 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $142.30.
Kirby (NYSE:KEX – Get Free Report) last announced its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. The company had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.Kirby’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 earnings per share. Equities analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current year.
Kirby 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.
Further Reading
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