Texas Permanent School Fund Acquires 1,331 Shares of Kirby Co. (KEX)

Texas Permanent School Fund lifted its holdings in Kirby Co. (NYSE:KEX) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,589 shares of the shipping company’s stock after acquiring an additional 1,331 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Kirby worth $2,748,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. boosted its stake in shares of Kirby by 0.3% in the first quarter. North Star Investment Management Corp. now owns 78,900 shares of the shipping company’s stock valued at $5,926,000 after purchasing an additional 200 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Kirby by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 69,858 shares of the shipping company’s stock valued at $4,706,000 after purchasing an additional 221 shares during the period. American International Group Inc. boosted its stake in shares of Kirby by 0.3% in the fourth quarter. American International Group Inc. now owns 109,914 shares of the shipping company’s stock valued at $7,404,000 after purchasing an additional 283 shares during the period. Arizona State Retirement System boosted its stake in shares of Kirby by 1.1% in the fourth quarter. Arizona State Retirement System now owns 38,671 shares of the shipping company’s stock valued at $2,605,000 after purchasing an additional 409 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Kirby by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 73,008 shares of the shipping company’s stock valued at $4,918,000 after purchasing an additional 422 shares during the period. 96.45% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of Kirby from an “underperform” rating to a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. TheStreet upgraded shares of Kirby from a “c+” rating to a “b” rating in a research note on Thursday, May 2nd. Wells Fargo & Co upped their target price on shares of Kirby from $74.00 to $80.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. They noted that the move was a valuation call. Finally, BTIG Research assumed coverage on shares of Kirby in a research note on Friday, January 25th. They issued a “neutral” rating and a $67.40 target price for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $86.60.

In other Kirby news, Director Monte J. Miller sold 4,937 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $84.91, for a total transaction of $419,200.67. Following the sale, the director now directly owns 19,126 shares of the company’s stock, valued at $1,623,988.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ronald A. Dragg sold 500 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $84.00, for a total transaction of $42,000.00. Following the sale, the vice president now directly owns 10,386 shares in the company, valued at $872,424. The disclosure for this sale can be found here. Insiders have sold a total of 16,971 shares of company stock worth $1,355,459 over the last quarter. 1.80% of the stock is currently owned by insiders.

NYSE KEX traded up $1.55 during trading hours on Thursday, reaching $84.58. 9,349 shares of the company traded hands, compared to its average volume of 459,982. Kirby Co. has a 12 month low of $60.63 and a 12 month high of $94.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.92 and a quick ratio of 1.08. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 2.09 and a beta of 1.11.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Kirby had a net margin of 3.04% and a return on equity of 5.50%. The firm had revenue of $744.60 million for the quarter, compared to the consensus estimate of $737.78 million. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s revenue was up .4% compared to the same quarter last year. As a group, analysts anticipate that Kirby Co. will post 3.5 EPS for the current year.

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About Kirby

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

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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