King Luther Capital Management Corp Boosts Position in Kirby Corporation $KEX

King Luther Capital Management Corp grew its position in Kirby Corporation (NYSE:KEX) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,570,001 shares of the shipping company’s stock after buying an additional 122,733 shares during the quarter. King Luther Capital Management Corp owned 2.81% of Kirby worth $131,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc acquired a new position in Kirby during the second quarter worth about $29,000. Bell Investment Advisors Inc grew its position in shares of Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 114 shares during the last quarter. First Horizon Corp purchased a new position in shares of Kirby during the 3rd quarter worth approximately $30,000. True Wealth Design LLC increased its stake in shares of Kirby by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock worth $42,000 after purchasing an additional 308 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Kirby by 38.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock worth $51,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insider Activity at Kirby

In other Kirby news, VP Scott P. Miller sold 3,960 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the completion of the sale, the vice president directly owned 3,565 shares in the company, valued at $430,224.20. This represents a 52.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kurt A. Niemietz sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $114.12, for a total value of $171,180.00. Following the completion of the transaction, the vice president owned 958 shares in the company, valued at approximately $109,326.96. This trade represents a 61.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 63,898 shares of company stock worth $7,081,741. 0.90% of the stock is owned by corporate insiders.

Kirby Stock Up 1.1%

Shares of NYSE:KEX opened at $128.07 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.14 and a beta of 0.88. The stock’s 50-day moving average price is $119.62 and its two-hundred day moving average price is $104.40. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $132.18.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The business had revenue of $851.78 million for the quarter, compared to analysts’ expectations of $857.82 million. During the same period last year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on KEX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a report on Thursday, January 22nd. Citigroup upped their price objective 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 objective on shares of Kirby in a research report on Friday, January 30th. Zacks Research downgraded shares of Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kirby presently has an average rating of “Moderate Buy” and an average target price of $129.40.

Kirby Company Profile

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.