SG Americas Securities LLC Raises Holdings in Kirby Corporation $KEX

SG Americas Securities LLC grew its stake in shares of Kirby Corporation (NYSE:KEX) by 285.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,817 shares of the shipping company’s stock after acquiring an additional 6,527 shares during the quarter. SG Americas Securities LLC’s holdings in Kirby were worth $736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after purchasing an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Kirby by 152.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock worth $18,441,000 after buying an additional 110,320 shares during the period. Parallel Advisors LLC grew its holdings in shares of Kirby by 49.4% during the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Kirby by 45.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,434 shares of the shipping company’s stock valued at $1,337,000 after acquiring an additional 3,597 shares during the period. Finally, UMB Bank n.a. raised its stake in Kirby by 49.3% in the 2nd quarter. UMB Bank n.a. now owns 524 shares of the shipping company’s stock worth $59,000 after acquiring an additional 173 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KEX has been the topic of several research analyst reports. BTIG Research boosted their price target on Kirby from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Wolfe Research reiterated an “outperform” rating and issued a $134.00 target price on shares of Kirby in a research report on Thursday, January 8th. Citigroup increased their price target on shares of Kirby from $131.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI lifted their price objective on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kirby has an average rating of “Moderate Buy” and an average target price of $130.50.

Insider Activity at Kirby

In other Kirby news, VP Ronald A. Dragg sold 2,715 shares of Kirby stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $110.29, for a total value of $299,437.35. Following the completion of the transaction, the vice president owned 10,325 shares of the company’s stock, valued at approximately $1,138,744.25. The trade was a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kurt A. Niemietz sold 1,500 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $114.12, for a total transaction of $171,180.00. Following the completion of the transaction, the vice president owned 958 shares of the company’s stock, valued at approximately $109,326.96. This trade represents a 61.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,147 shares of company stock valued at $6,204,544 in the last quarter. 0.90% of the stock is currently owned by insiders.

Kirby Stock Up 0.9%

Shares of KEX stock opened at $127.00 on Wednesday. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $127.45. The stock has a market cap of $6.88 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.08 and a beta of 0.88. The stock has a 50 day moving average of $113.96 and a 200 day moving average of $102.94. 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 (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. As a group, sell-side analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Kirby 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.