Tudor Investment Corp ET AL Makes New $8.77 Million Investment in Kirby Corporation $KEX

Tudor Investment Corp ET AL purchased a new position in shares of Kirby Corporation (NYSE:KEX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 105,118 shares of the shipping company’s stock, valued at approximately $8,772,000.

Other large investors also recently modified their holdings of the company. First Horizon Corp acquired a new stake in shares of Kirby during the 3rd quarter valued at $30,000. Frazier Financial Advisors LLC increased its holdings in Kirby by 559.3% in the 3rd quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock worth $47,000 after purchasing an additional 481 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Kirby in the third quarter valued at about $53,000. Huntington National Bank boosted its stake in shares of Kirby by 21.0% during the third quarter. Huntington National Bank now owns 932 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 162 shares in the last quarter. Finally, State of Wyoming boosted its position in Kirby by 12.8% during the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after buying an additional 114 shares during the period. 96.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KEX has been the subject of several research reports. Citigroup raised 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. Wolfe Research restated an “outperform” rating and issued a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Weiss Ratings lowered Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. BTIG Research reduced their target price on shares of Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Finally, Evercore reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of Kirby in a research report on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.60.

Kirby Stock Performance

NYSE:KEX opened at $130.59 on Monday. The company has a market capitalization of $7.00 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.17 and a beta of 0.83. The business has a fifty day simple moving average of $126.39 and a two-hundred day simple moving average of $109.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $134.69.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating 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%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, analysts expect that Kirby Corporation will post 6.57 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 34,152 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the sale, the chief executive officer owned 98,241 shares of the company’s stock, valued at approximately $12,776,242.05. This represents a 25.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 11,667 shares of Kirby stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the transaction, the vice president directly owned 14,814 shares of the company’s stock, valued at $1,915,894.62. The trade was a 44.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,495 shares of company stock valued at $9,226,173 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

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.