Federated Hermes Inc. Has $3.47 Million Stock Position in Kirby Corporation $KEX

Federated Hermes Inc. lessened its position in Kirby Corporation (NYSE:KEX) by 27.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 41,551 shares of the shipping company’s stock after selling 16,066 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Kirby worth $3,467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of Kirby by 72.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after purchasing an additional 959,209 shares in the last quarter. Norges Bank bought a new position in shares of Kirby in the second quarter valued at $78,256,000. Hood River Capital Management LLC acquired a new position in shares of Kirby during the second quarter valued at about $73,784,000. Encompass Capital Advisors LLC increased its position in shares of Kirby by 32.4% during the second quarter. Encompass Capital Advisors LLC now owns 1,225,338 shares of the shipping company’s stock worth $138,966,000 after acquiring an additional 299,981 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Kirby during the second quarter worth about $32,817,000. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of Kirby stock opened at $120.73 on Wednesday. The business’s fifty day simple moving average is $117.40 and its 200 day simple moving average is $103.60. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $132.18. The firm has a market capitalization of $6.54 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06. The firm had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. As a group, analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Insider Buying and Selling at Kirby

In other Kirby news, COO Christian G. O’neil sold 11,145 shares of Kirby stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $111.68, for a total value of $1,244,673.60. Following the sale, the chief operating officer owned 14,835 shares of the company’s stock, valued at approximately $1,656,772.80. The trade was a 42.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy D. Husted sold 10,413 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the transaction, the vice president owned 11,760 shares in the company, valued at approximately $1,263,259.20. The trade was a 46.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,147 shares of company stock valued at $6,204,544 in the last three months. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Citigroup lifted their target price on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and set a $136.00 price target on shares of Kirby in a report on Friday. Finally, BTIG Research lowered their price target on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.40.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.