Diamond Hill Capital Management Inc. Has $8.33 Million Position in Kirby Co. (NYSE:KEX)

Diamond Hill Capital Management Inc. lessened its position in Kirby Co. (NYSE:KEX) by 53.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,593 shares of the shipping company’s stock after selling 81,110 shares during the period. Diamond Hill Capital Management Inc. owned about 0.12% of Kirby worth $8,332,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Kirby by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company’s stock valued at $478,549,000 after purchasing an additional 81,808 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Kirby by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 1,828,758 shares of the shipping company’s stock valued at $143,521,000 after purchasing an additional 63,611 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Kirby by 4.1% in the 1st quarter. Jennison Associates LLC now owns 1,401,844 shares of the shipping company’s stock valued at $133,624,000 after purchasing an additional 54,755 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Kirby by 10.5% in the 1st quarter. Janus Henderson Group PLC now owns 955,587 shares of the shipping company’s stock valued at $91,086,000 after purchasing an additional 90,586 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Kirby by 21.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock valued at $85,432,000 after purchasing an additional 157,880 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Performance

Kirby stock opened at $119.03 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $130.90. The company has a market cap of $6.97 billion, a PE ratio of 28.14, a PEG ratio of 0.71 and a beta of 1.17. The company’s 50-day moving average is $118.18 and its two-hundred day moving average is $111.11.

Kirby (NYSE:KEX) last released its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The company had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Kirby Co. will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KEX shares. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus upped their price target on shares of Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Bank of America upped their price target on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $123.80.

Insider Buying and Selling at Kirby

In other Kirby news, CEO David W. Grzebinski sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,627,533.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO David W. Grzebinski sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Kirby 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.