Xact Kapitalforvaltning AB lifted its position in shares of Kirby Co. (NYSE:KEX) by 184.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,879 shares of the shipping company’s stock after purchasing an additional 6,400 shares during the period. Xact Kapitalforvaltning AB’s holdings in Kirby were worth $742,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KEX. Carroll Financial Associates Inc. purchased a new position in shares of Kirby during the 1st quarter valued at $36,000. Penserra Capital Management LLC purchased a new position in shares of Kirby during the 4th quarter valued at $37,000. Investors Research Corp purchased a new position in shares of Kirby during the 1st quarter valued at $56,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Kirby during the 4th quarter valued at $102,000. Finally, Cutler Group LP lifted its stake in shares of Kirby by 50.3% during the 4th quarter. Cutler Group LP now owns 1,613 shares of the shipping company’s stock valued at $108,000 after buying an additional 540 shares in the last quarter. Institutional investors own 95.72% of the company’s stock.

In other news, insider Dorman Lynn Strahan sold 3,071 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $84.89, for a total value of $260,697.19. Following the sale, the insider now directly owns 23,784 shares in the company, valued at approximately $2,019,023.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William M. Waterman sold 20,000 shares of the business’s 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 28,508 shares of company stock worth $2,368,898. 1.80% of the stock is currently owned by insiders.

NYSE KEX traded down $1.71 on Wednesday, reaching $79.74. The company had a trading volume of 9,617 shares, compared to its average volume of 468,772. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.92. The company has a market cap of $4.87 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.14 and a beta of 1.05. Kirby Co. has a 12 month low of $60.63 and a 12 month high of $89.50.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, May 2nd. The shipping company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $744.60 million for the quarter, compared to the consensus estimate of $737.78 million. Kirby had a net margin of 3.04% and a return on equity of 5.50%. Kirby’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, analysts forecast that Kirby Co. will post 3.48 EPS for the current fiscal year.

KEX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Kirby from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. TheStreet upgraded shares of Kirby from a “c+” rating to a “b” rating in a report on Thursday, May 2nd. Wells Fargo & Co lifted their price target on shares of 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. Finally, Bank of America upgraded shares of Kirby from an “underperform” rating to a “buy” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Kirby presently has an average rating of “Buy” and a consensus target price of $81.13.

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Kirby Profile

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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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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