Kirby Co. (NYSE:KEX) Stock Position Boosted by Linscomb & Williams Inc.

Linscomb & Williams Inc. grew its stake in shares of Kirby Co. (NYSE:KEX) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,660 shares of the shipping company’s stock after buying an additional 2,767 shares during the quarter. Linscomb & Williams Inc.’s holdings in Kirby were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in KEX. Turtle Creek Wealth Advisors LLC bought a new stake in Kirby during the fourth quarter worth approximately $53,000. Quest Partners LLC bought a new stake in shares of Kirby in the 4th quarter worth $58,000. NBC Securities Inc. bought a new stake in shares of Kirby in the 3rd quarter worth $59,000. AXQ Capital LP acquired a new stake in shares of Kirby in the third quarter valued at $224,000. Finally, Panagora Asset Management Inc. bought a new position in Kirby during the third quarter valued at about $226,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Stephens reiterated an “overweight” rating and set a $105.00 price objective on shares of Kirby in a research report on Monday, February 5th. Wolfe Research initiated coverage on Kirby in a research note on Monday, April 22nd. They set an “outperform” rating and a $126.00 price objective for the company. BTIG Research boosted their target price on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus increased their price target on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $119.50.

Kirby Trading Up 1.0 %

Kirby stock traded up $1.20 during midday trading on Friday, reaching $122.39. The stock had a trading volume of 248,084 shares, compared to its average volume of 505,513. The firm’s fifty day simple moving average is $104.28 and its two-hundred day simple moving average is $88.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.81 and a quick ratio of 1.12. Kirby Co. has a twelve month low of $71.21 and a twelve month high of $123.53. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 0.81 and a beta of 1.14.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22. The business had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. Kirby had a return on equity of 7.96% and a net margin of 8.01%. Kirby’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Equities analysts anticipate that Kirby Co. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling at Kirby

In other news, Director Richard J. Alario sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $121.39, for a total value of $303,475.00. Following the completion of the sale, the director now directly owns 25,317 shares of the company’s stock, valued at $3,073,230.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Raj Kumar sold 2,228 shares of Kirby stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $92.00, for a total transaction of $204,976.00. Following the completion of the sale, the chief financial officer now owns 1,719 shares of the company’s stock, valued at $158,148. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard J. Alario sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $121.39, for a total value of $303,475.00. Following the completion of the transaction, the director now directly owns 25,317 shares in the company, valued at $3,073,230.63. The disclosure for this sale can be found here. Insiders have sold a total of 35,479 shares of company stock valued at $3,761,201 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

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.