Campbell & CO Investment Adviser LLC Buys New Shares in Kirby Corporation $KEX

Campbell & CO Investment Adviser LLC purchased a new position in shares of Kirby Corporation (NYSE:KEX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,322 shares of the shipping company’s stock, valued at approximately $2,030,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of KEX. Luminus Management LLC lifted its holdings in Kirby by 292.0% during the 3rd quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock valued at $9,760,000 after purchasing an additional 87,120 shares during the last quarter. Bailard Inc. acquired a new position in shares of Kirby in the second quarter valued at $692,000. American Century Companies Inc. raised its position in shares of Kirby by 64.9% in the second quarter. American Century Companies Inc. now owns 50,399 shares of the shipping company’s stock valued at $5,716,000 after purchasing an additional 19,833 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of Kirby by 72.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the shipping company’s stock worth $646,000 after buying an additional 2,400 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Kirby by 29.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 263,943 shares of the shipping company’s stock worth $22,026,000 after buying an additional 60,635 shares during the period. Institutional investors own 96.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on KEX. Evercore ISI increased their price target on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Citigroup increased their target price on Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Wolfe Research reissued an “outperform” rating and set a $134.00 price target on shares of Kirby in a report on Thursday, January 8th. BTIG Research upped their price objective on Kirby from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kirby presently has an average rating of “Moderate Buy” and a consensus target price of $128.17.

Insider Activity at Kirby

In related news, COO Christian G. O’neil sold 11,145 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the completion of the sale, the chief operating officer directly owned 14,835 shares in the company, valued at $1,656,772.80. This represents a 42.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Grzebinski sold 29,451 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $107.41, for a total value of $3,163,331.91. Following the completion of the sale, the chief executive officer directly owned 79,709 shares in the company, valued at $8,561,543.69. This trade represents a 26.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have 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.

Kirby Price Performance

KEX stock opened at $125.85 on Friday. The company’s 50-day moving average price is $113.28 and its two-hundred day moving average price is $102.99. The firm has a market cap of $6.82 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.09 and a beta of 0.88. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $127.21.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The business had revenue of $871.16 million for the quarter, compared to analysts’ expectations of $843.29 million. During the same period last year, the firm posted $1.55 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Kirby 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.