Meeder Asset Management Inc. Purchases Shares of 13,327 Kirby Co. (NYSE:KEX)

Meeder Asset Management Inc. purchased a new stake in shares of Kirby Co. (NYSE:KEX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 13,327 shares of the shipping company’s stock, valued at approximately $1,270,000.

Several other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its position in Kirby by 32.4% during the 1st quarter. Sei Investments Co. now owns 66,833 shares of the shipping company’s stock valued at $6,371,000 after buying an additional 16,373 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Kirby during the 1st quarter valued at $4,397,000. SG Americas Securities LLC boosted its position in Kirby by 53.9% during the 1st quarter. SG Americas Securities LLC now owns 5,372 shares of the shipping company’s stock valued at $512,000 after buying an additional 1,881 shares during the period. Texas Permanent School Fund Corp raised its holdings in Kirby by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 51,724 shares of the shipping company’s stock worth $4,930,000 after purchasing an additional 670 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Kirby in the 1st quarter worth $943,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Up 2.2 %

NYSE:KEX traded up $2.73 on Tuesday, reaching $126.52. 27,740 shares of the stock traded hands, compared to its average volume of 436,960. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 0.74 and a beta of 1.18. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $126.71. The company’s fifty day simple moving average is $119.05 and its 200 day simple moving average is $99.47.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts predict that Kirby Co. will post 5.3 EPS for the current fiscal year.

Insider Activity

In other news, VP Amy D. Husted sold 7,853 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total transaction of $961,992.50. Following the sale, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $646,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Amy D. Husted sold 7,853 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total value of $961,992.50. Following the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at $646,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William Matthew Woodruff sold 3,750 shares of Kirby stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $109.25, for a total transaction of $409,687.50. Following the transaction, the vice president now directly owns 941 shares in the company, valued at approximately $102,804.25. The disclosure for this sale can be found here. Insiders have sold a total of 33,319 shares of company stock valued at $3,896,633 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price objective for the company. BTIG Research upped their price objective on shares of Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Stifel Nicolaus upped their price objective on shares of Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Bank of America upped their price objective on shares of Kirby from $131.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kirby presently has an average rating of “Buy” and a consensus target price of $123.20.

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.