Kirby Corporation $KEX Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in shares of Kirby Corporation (NYSE:KEX) by 114.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,628 shares of the shipping company’s stock after acquiring an additional 6,736 shares during the period. Pacer Advisors Inc.’s holdings in Kirby were worth $1,054,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KEX. Alliancebernstein L.P. increased its stake in Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock valued at $258,900,000 after purchasing an additional 959,209 shares during the last quarter. Norges Bank acquired a new position in shares of Kirby in the 2nd quarter valued at about $78,256,000. Hood River Capital Management LLC acquired a new position in shares of Kirby in the 2nd quarter valued at about $73,784,000. Select Equity Group L.P. grew its position in shares of Kirby by 24.8% during the 1st quarter. Select Equity Group L.P. now owns 1,954,698 shares of the shipping company’s stock valued at $197,444,000 after buying an additional 389,005 shares during the last quarter. Finally, Park West Asset Management LLC raised its stake in Kirby by 69.3% during the first quarter. Park West Asset Management LLC now owns 776,000 shares of the shipping company’s stock worth $78,384,000 after acquiring an additional 317,721 shares during the period. 96.15% of the stock is currently owned by institutional investors.

Kirby Trading Down 0.5%

Shares of KEX stock opened at $110.39 on Friday. 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 1 year low of $79.51 and a 1 year high of $122.50. The stock has a fifty day moving average of $108.35 and a two-hundred day moving average of $102.29. The firm has a market capitalization of $5.98 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.08 and a beta of 0.88.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. The company had revenue of $871.16 million for the quarter, compared to analyst estimates of $843.29 million. Kirby had a return on equity of 10.05% and a net margin of 9.22%.The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.55 earnings per share. As a group, research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Kirby

In related news, VP Ronald A. Dragg sold 2,715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $110.29, for a total transaction of $299,437.35. Following the transaction, the vice president owned 10,325 shares in the company, valued at $1,138,744.25. This trade represents a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christian G. O’neil sold 11,145 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $111.68, for a total value of $1,244,673.60. Following the sale, the chief operating officer directly owned 14,835 shares in the company, valued at approximately $1,656,772.80. The trade was a 42.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,147 shares of company stock worth $6,204,544 in the last three months. Insiders own 0.90% of the company’s stock.

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.