Stifel Financial Corp Has $3.54 Million Position in Kirby Co. (NYSE:KEX)

Stifel Financial Corp decreased its holdings in Kirby Co. (NYSE:KEX) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,909 shares of the shipping company’s stock after selling 438 shares during the quarter. Stifel Financial Corp owned 0.05% of Kirby worth $3,539,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. acquired a new position in Kirby in the second quarter worth about $65,928,000. Encompass Capital Advisors LLC grew its stake in shares of Kirby by 33.9% in the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after purchasing an additional 224,802 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Kirby by 68.7% in the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after buying an additional 194,410 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Kirby during the 3rd quarter worth approximately $22,106,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Kirby by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after buying an additional 152,146 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Performance

NYSE:KEX opened at $113.73 on Tuesday. The stock has a market capitalization of $6.53 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. Kirby Co. has a 1 year low of $74.88 and a 1 year high of $132.21. The firm has a 50 day moving average of $123.46 and a 200-day moving average of $120.87. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The company had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Kirby Co. will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The trade was a 35.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christian G. O’neil sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $123.29, for a total value of $1,729,881.99. Following the completion of the transaction, the chief operating officer now owns 12,746 shares in the company, valued at approximately $1,571,454.34. This represents a 52.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,238 shares of company stock worth $5,366,356 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $123.80.

Kirby 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.