Carroll Financial Associates Inc. Takes $36,000 Position in Kirby Co. (KEX)

Carroll Financial Associates Inc. bought a new position in Kirby Co. (NYSE:KEX) in the first quarter, Holdings Channel reports. The fund bought 492 shares of the shipping company’s stock, valued at approximately $36,000.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in Kirby by 4.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 89,385 shares of the shipping company’s stock worth $7,351,000 after buying an additional 3,758 shares during the last quarter. Glenmede Trust Co. NA raised its position in Kirby by 20.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,453 shares of the shipping company’s stock worth $366,000 after buying an additional 756 shares during the last quarter. Barclays PLC raised its position in Kirby by 14.8% in the 4th quarter. Barclays PLC now owns 36,221 shares of the shipping company’s stock worth $2,440,000 after buying an additional 4,663 shares during the last quarter. Man Group plc raised its position in Kirby by 10.5% in the 3rd quarter. Man Group plc now owns 69,885 shares of the shipping company’s stock worth $5,748,000 after buying an additional 6,615 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Kirby by 31.9% in the 4th quarter. Bank of America Corp DE now owns 1,391,208 shares of the shipping company’s stock worth $93,712,000 after buying an additional 336,555 shares during the last quarter. 95.88% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on KEX shares. TheStreet lowered Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st. Zacks Investment Research lowered Kirby from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Wells Fargo & Co lowered Kirby from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 10th. Finally, BTIG Research started coverage on Kirby in a research report on Friday, January 25th. They issued a “neutral” rating and a $67.40 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Kirby currently has an average rating of “Hold” and a consensus price target of $87.28.

In other Kirby news, Director Richard Ross Stewart sold 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $74.67, for a total transaction of $186,675.00. Following the completion of the sale, the director now directly owns 19,831 shares in the company, valued at approximately $1,480,780.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ronald A. Dragg sold 630 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $74.28, for a total value of $46,796.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,876 shares of company stock valued at $2,081,911. Corporate insiders own 1.80% of the company’s stock.

Kirby stock opened at $80.89 on Wednesday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.23 and a beta of 1.08. Kirby Co. has a 52-week low of $60.63 and a 52-week high of $94.05. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.44.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, January 31st. The shipping company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. The business had revenue of $721.49 million during the quarter, compared to the consensus estimate of $698.14 million. Kirby had a return on equity of 5.43% and a net margin of 2.64%. On average, sell-side analysts expect that Kirby Co. will post 3.57 earnings per share for the current fiscal year.

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Kirby Profile

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.

Further Reading: Understanding each part of a balance sheet

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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