Tectonic Advisors LLC Buys 6,434 Shares of Kirby Corporation $KEX

Tectonic Advisors LLC boosted its stake in shares of Kirby Corporation (NYSE:KEX) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,933 shares of the shipping company’s stock after acquiring an additional 6,434 shares during the period. Tectonic Advisors LLC owned 0.19% of Kirby worth $9,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of KEX. Ethic Inc. grew its holdings in shares of Kirby by 3.1% during the 2nd quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock worth $372,000 after purchasing an additional 98 shares in the last quarter. Bell Investment Advisors Inc grew its stake in Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after buying an additional 114 shares in the last quarter. Parallel Advisors LLC increased its holdings in Kirby by 49.4% in the 2nd 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 period. Hantz Financial Services Inc. increased its holdings in Kirby by 38.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock valued at $51,000 after buying an additional 125 shares during the period. Finally, Wedbush Securities Inc. raised its position in shares of Kirby by 4.5% in the 2nd quarter. Wedbush Securities Inc. now owns 2,946 shares of the shipping company’s stock valued at $334,000 after buying an additional 128 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Stock Performance

NYSE KEX opened at $110.39 on Friday. The firm’s fifty day moving average price is $108.35 and its two-hundred day moving average price is $102.29. The stock has a market cap of $5.98 billion, a PE ratio of 20.48, a PEG ratio of 1.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $122.50.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. The company had revenue of $871.16 million for the quarter, compared to the consensus estimate of $843.29 million. Kirby had a return on equity of 10.05% and a net margin of 9.22%.Kirby’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. On average, equities analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 29,451 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $107.41, for a total value of $3,163,331.91. Following the completion of the transaction, the chief executive officer owned 79,709 shares of the company’s stock, valued at $8,561,543.69. This represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christian G. O’neil sold 11,145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the completion of the transaction, the chief operating officer owned 14,835 shares of the company’s stock, valued at approximately $1,656,772.80. This trade represents a 42.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 57,147 shares of company stock valued at $6,204,544. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KEX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Evercore ISI upped their target price on Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Citigroup boosted their price target on Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Kirby in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Kirby currently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

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.