DekaBank Deutsche Girozentrale Purchases Shares of 1,457 Kirby Co. (NYSE:KEX)

DekaBank Deutsche Girozentrale acquired a new position in shares of Kirby Co. (NYSE:KEX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,457 shares of the shipping company’s stock, valued at approximately $175,000.

Several other hedge funds have also modified their holdings of KEX. International Assets Investment Management LLC acquired a new position in shares of Kirby in the 2nd quarter valued at $26,000. ORG Partners LLC acquired a new position in Kirby in the second quarter valued at $32,000. Opal Wealth Advisors LLC purchased a new stake in Kirby during the second quarter valued at about $33,000. Blue Trust Inc. increased its stake in Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Kirby by 56.1% in the 1st quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock worth $38,000 after purchasing an additional 143 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KEX shares. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Bank of America raised their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $123.80.

Kirby Stock Performance

Kirby stock opened at $124.53 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The firm’s fifty day moving average price is $118.51 and its 200 day moving average price is $112.02. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $130.90.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The firm had revenue of $824.40 million during the quarter, compared to analyst estimates of $821.65 million. During the same quarter last year, the firm earned $0.95 EPS. Kirby’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that Kirby Co. will post 5.46 EPS for the current fiscal year.

Insider Activity at Kirby

In other news, COO Christian G. O’neil sold 2,770 shares of Kirby stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the transaction, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The disclosure for this sale can be found here. Insiders sold a total of 49,012 shares of company stock valued at $5,932,197 over the last three months. 1.50% of the stock is owned by insiders.

Kirby Company Profile

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.