Readystate Asset Management LP Boosts Stock Position in Kirby Co. (NYSE:KEX)

Readystate Asset Management LP increased its stake in Kirby Co. (NYSE:KEX) by 36.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 161,143 shares of the shipping company’s stock after buying an additional 42,743 shares during the quarter. Readystate Asset Management LP’s holdings in Kirby were worth $12,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KEX. Orion Portfolio Solutions LLC lifted its position in Kirby by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after acquiring an additional 124 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Kirby by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,157 shares of the shipping company’s stock valued at $2,166,000 after acquiring an additional 130 shares in the last quarter. Keene & Associates Inc. lifted its position in Kirby by 5.9% in the 3rd quarter. Keene & Associates Inc. now owns 5,238 shares of the shipping company’s stock valued at $434,000 after acquiring an additional 290 shares in the last quarter. Swiss National Bank lifted its position in Kirby by 0.9% in the 3rd quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock valued at $2,729,000 after acquiring an additional 300 shares in the last quarter. Finally, Keybank National Association OH lifted its position in Kirby by 3.8% in the 3rd quarter. Keybank National Association OH now owns 8,565 shares of the shipping company’s stock valued at $709,000 after acquiring an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling

In related news, VP Scott P. Miller sold 1,828 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $79,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kirby news, VP Scott P. Miller sold 487 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total value of $48,592.86. Following the completion of the sale, the vice president now owns 1,000 shares in the company, valued at approximately $99,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott P. Miller sold 1,828 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $79,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,418 shares of company stock valued at $4,932,521. 1.40% of the stock is owned by company insiders.

Kirby Stock Performance

Shares of NYSE KEX traded down $1.46 during midday trading on Wednesday, hitting $95.08. 337,654 shares of the stock traded hands, compared to its average volume of 388,063. The firm has a 50-day moving average of $90.58 and a two-hundred day moving average of $82.68. The firm has a market capitalization of $5.56 billion, a P/E ratio of 25.56, a PEG ratio of 1.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. Kirby Co. has a one year low of $66.42 and a one year high of $101.17.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The company had revenue of $799.18 million for the quarter, compared to analysts’ expectations of $778.70 million. During the same period last year, the firm earned $0.67 EPS. Kirby’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that Kirby Co. will post 4.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BTIG Research increased their price target on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Stephens reissued an “overweight” rating and set a $105.00 price target on shares of Kirby in a report on Monday, February 5th. Finally, StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a report on Tuesday.

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.