Brevan Howard Capital Management LP Has $3.07 Million Stock Position in Kirby Corporation $KEX

Brevan Howard Capital Management LP increased its holdings in shares of Kirby Corporation (NYSE:KEX) by 380.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,800 shares of the shipping company’s stock after buying an additional 29,148 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Kirby were worth $3,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KEX. First Horizon Corp acquired a new stake in shares of Kirby in the 3rd quarter valued at approximately $30,000. Bell Investment Advisors Inc increased its position in Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after purchasing an additional 114 shares in the last quarter. Frazier Financial Advisors LLC lifted its stake in Kirby by 559.3% in the 3rd quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 481 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Kirby in the 3rd quarter valued at approximately $53,000. Finally, Huntington National Bank boosted its position in Kirby by 21.0% in the third quarter. Huntington National Bank now owns 932 shares of the shipping company’s stock valued at $78,000 after buying an additional 162 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of Kirby stock opened at $124.24 on Tuesday. The business has a 50-day simple moving average of $125.95 and a 200 day simple moving average of $108.27. Kirby Corporation has a one year low of $79.51 and a one year high of $134.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.12 and a beta of 0.83.

Kirby (NYSE:KEX) last announced its quarterly 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 return on equity of 10.53% and a net margin of 10.54%.The business had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same quarter in the prior 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 anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KEX shares. Wolfe Research reiterated an “outperform” rating and set a $136.00 price target on shares of Kirby in a report on Friday, January 30th. BTIG Research reduced their price objective on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Citigroup upped their target price on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings downgraded Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Finally, Zacks Research lowered Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.60.

Insider Activity at Kirby

In other Kirby news, VP Amy D. Husted sold 11,667 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the completion of the sale, the vice president owned 14,814 shares in the company, valued at approximately $1,915,894.62. The trade was a 44.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the transaction, the vice president owned 3,565 shares in the company, valued at approximately $430,224.20. The trade was a 52.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,640 shares of company stock valued at $10,470,847 over the last three months. 0.80% of the stock is currently owned by company insiders.

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.