Tectonic Advisors LLC Has $7.03 Million Stock Position in Kirby Co. (NYSE:KEX)

Tectonic Advisors LLC raised its position in shares of Kirby Co. (NYSE:KEX) by 27.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,456 shares of the shipping company’s stock after purchasing an additional 12,444 shares during the period. Tectonic Advisors LLC owned approximately 0.10% of Kirby worth $7,034,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KEX. Select Equity Group L.P. acquired a new position in Kirby during the second quarter valued at approximately $65,928,000. Lord Abbett & CO. LLC acquired a new position in shares of Kirby during the first quarter worth $22,877,000. Encompass Capital Advisors LLC increased its holdings in shares of Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock worth $106,246,000 after buying an additional 224,802 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Kirby during the third quarter worth $22,106,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Kirby by 21.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock worth $85,432,000 after buying an additional 157,880 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Stock Performance

Shares of KEX opened at $123.74 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $7.24 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The firm’s fifty day simple moving average is $120.51 and its two-hundred day simple moving average is $117.19. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $130.90.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The business had revenue of $824.40 million for the quarter, compared to analysts’ expectations of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. As a group, analysts predict that Kirby Co. will post 5.46 EPS for the current year.

Insider Transactions at Kirby

In other news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at $668,131.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,012 shares of company stock valued at $5,571,267 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KEX has been the subject of several research analyst reports. Bank of America upped their price target on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.