4,894 Shares in Kirby Corporation $KEX Bought by Inceptionr LLC

Inceptionr LLC bought a new position in shares of Kirby Corporation (NYSE:KEX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,894 shares of the shipping company’s stock, valued at approximately $408,000.

Several other hedge funds have also modified their holdings of the stock. Peregrine Capital Management LLC lifted its position in shares of Kirby by 18.4% in the 3rd quarter. Peregrine Capital Management LLC now owns 131,000 shares of the shipping company’s stock valued at $10,932,000 after acquiring an additional 20,399 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Kirby during the 3rd quarter worth approximately $2,030,000. Luminus Management LLC grew its position in Kirby by 292.0% during the 3rd quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after purchasing an additional 87,120 shares in the last quarter. VELA Investment Management LLC raised its stake in Kirby by 11.5% during the 3rd quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock valued at $13,392,000 after purchasing an additional 16,615 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Kirby by 312.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 26,006 shares of the shipping company’s stock valued at $2,170,000 after purchasing an additional 19,705 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kirby news, VP Scott P. Miller sold 3,960 shares of the firm’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 transaction, the vice president directly owned 3,565 shares in the company, valued at $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronald A. Dragg sold 5,429 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $122.00, for a total value of $662,338.00. Following the completion of the sale, the vice president directly owned 10,399 shares of the company’s stock, valued at $1,268,678. This represents a 34.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 82,640 shares of company stock valued at $10,470,847. Corporate insiders own 0.90% of the company’s stock.

Kirby Price Performance

NYSE KEX opened at $126.24 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $6.77 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.13 and a beta of 0.83. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $134.69. The company has a 50 day moving average price of $125.27 and a two-hundred day moving average price of $107.64.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. Kirby’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. As a group, equities analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KEX has been the subject of several recent analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. Zacks Research lowered Kirby from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Evercore reissued an “outperform” rating and issued a $138.00 price objective on shares of Kirby in a research note on Monday. Weiss Ratings lowered Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Citigroup lifted their target price on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.60.

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.