Stanley Laman Group Ltd. Has $2.98 Million Holdings in Kirby Co. (NYSE:KEX)

Stanley Laman Group Ltd. decreased its holdings in shares of Kirby Co. (NYSE:KEX) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 37,979 shares of the shipping company’s stock after selling 1,523 shares during the period. Stanley Laman Group Ltd.’s holdings in Kirby were worth $2,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KEX. FMR LLC grew its holdings in shares of Kirby by 30.9% during the third quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock worth $173,886,000 after purchasing an additional 495,541 shares during the last quarter. RK Capital Management LLC bought a new stake in shares of Kirby during the third quarter worth about $8,412,000. Assenagon Asset Management S.A. grew its holdings in shares of Kirby by 273.5% during the third quarter. Assenagon Asset Management S.A. now owns 104,329 shares of the shipping company’s stock worth $8,638,000 after purchasing an additional 76,393 shares during the last quarter. Scout Investments Inc. bought a new stake in shares of Kirby during the third quarter worth about $6,191,000. Finally, Vanguard Group Inc. boosted its holdings in Kirby by 1.1% in the third quarter. Vanguard Group Inc. now owns 6,015,915 shares of the shipping company’s stock valued at $498,118,000 after acquiring an additional 64,420 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KEX has been the topic of several analyst reports. Stifel Nicolaus upped their target price on Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a report on Friday, April 19th. Stephens reiterated an “overweight” rating and issued a $105.00 target price on shares of Kirby in a report on Monday, February 5th. Wolfe Research initiated coverage on Kirby in a report on Monday. They issued an “outperform” rating and a $126.00 target price on the stock. BTIG Research upped their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kirby presently has an average rating of “Buy” and a consensus price target of $116.00.

Insider Transactions at Kirby

In other news, VP Scott P. Miller sold 1,828 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at $79,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David W. Grzebinski sold 18,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $85.44, for a total value of $1,537,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,399 shares of the company’s stock, valued at approximately $5,673,130.56. The transaction was disclosed in a legal filing 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 shares were 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 directly owns 1,000 shares of the company’s stock, valued at $79,600. The disclosure for this sale can be found here. Insiders have sold 56,418 shares of company stock valued at $4,932,521 over the last ninety days. 1.50% of the stock is owned by company insiders.

Kirby Trading Down 0.1 %

Shares of Kirby stock traded down $0.10 on Friday, reaching $112.06. 783,584 shares of the company’s stock were exchanged, compared to its average volume of 417,887. The company has a market capitalization of $6.56 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. Kirby Co. has a 52 week low of $67.07 and a 52 week high of $114.35. The firm’s 50-day moving average is $92.72 and its two-hundred day moving average is $83.56. 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 (NYSE:KEX) last posted its quarterly earnings results on Thursday, April 25th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The firm had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $784.49 million. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts predict that Kirby Co. will post 4.96 EPS for the current fiscal year.

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.