Wells Fargo & Company MN increased its holdings in shares of Kirby Co. (NYSE:KEX) by 1.0% during the first quarter, HoldingsChannel reports. The firm owned 488,459 shares of the shipping company’s stock after buying an additional 4,730 shares during the period. Wells Fargo & Company MN’s holdings in Kirby were worth $36,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Carroll Financial Associates Inc. bought a new position in Kirby in the first quarter valued at about $36,000. Penserra Capital Management LLC bought a new position in Kirby in the fourth quarter valued at about $37,000. Investors Research Corp bought a new position in Kirby in the first quarter valued at about $56,000. Amundi Pioneer Asset Management Inc. bought a new position in Kirby in the fourth quarter valued at about $102,000. Finally, US Bancorp DE lifted its holdings in Kirby by 38.6% in the first quarter. US Bancorp DE now owns 1,688 shares of the shipping company’s stock valued at $127,000 after acquiring an additional 470 shares during the period. 95.72% of the stock is currently owned by hedge funds and other institutional investors.
KEX traded down $0.85 during midday trading on Friday, reaching $79.68. The company had a trading volume of 4,589 shares, compared to its average volume of 486,455. The company has a quick ratio of 1.08, a current ratio of 1.92 and a debt-to-equity ratio of 0.55. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.09 and a beta of 1.06. Kirby Co. has a 1 year low of $60.63 and a 1 year high of $88.80.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, May 2nd. The shipping company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Kirby had a return on equity of 5.50% and a net margin of 3.04%. The business had revenue of $744.60 million during the quarter, compared to analysts’ expectations of $737.78 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. The business’s quarterly revenue was up .4% on a year-over-year basis. On average, equities analysts anticipate that Kirby Co. will post 3.48 earnings per share for the current fiscal year.
In related news, Director William M. Waterman sold 20,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $82.35, for a total transaction of $1,647,000.00. Following the completion of the sale, the director now owns 91,260 shares in the company, valued at $7,515,261. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dorman Lynn Strahan sold 3,071 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $84.89, for a total value of $260,697.19. Following the sale, the insider now owns 23,784 shares of the company’s stock, valued at approximately $2,019,023.76. The disclosure for this sale can be found here. Insiders have sold 28,508 shares of company stock valued at $2,368,898 in the last quarter. 1.80% of the stock is currently owned by company insiders.
KEX has been the topic of a number of recent research reports. Bank of America raised Kirby from an “underperform” rating to a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Co increased their target price on Kirby from $74.00 to $80.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded Kirby from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, TheStreet upgraded Kirby from a “c+” rating to a “b” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $81.13.
Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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