Legato Capital Management LLC Buys Shares of 9,511 Kirby Co. (NYSE:KEX)

Legato Capital Management LLC purchased a new position in shares of Kirby Co. (NYSE:KEX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,511 shares of the shipping company’s stock, valued at approximately $1,139,000.

A number of other large investors also recently bought and sold shares of KEX. ORG Partners LLC purchased a new stake in shares of Kirby in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Kirby during the 2nd quarter worth $33,000. Blue Trust Inc. lifted its stake in shares of Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 141 shares during the period. 1832 Asset Management L.P. boosted its holdings in Kirby by 56.1% during the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock worth $38,000 after buying an additional 143 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Kirby during the first quarter worth about $45,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Price Performance

Shares of NYSE:KEX traded up $1.08 during trading hours on Tuesday, hitting $118.35. 127,603 shares of the company’s stock traded hands, compared to its average volume of 460,852. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.81. The company’s fifty day simple moving average is $118.96 and its two-hundred day simple moving average is $108.06. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.75%. The company had revenue of $824.40 million during the quarter, compared to analysts’ expectations of $821.65 million. During the same period last year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Kirby Co. will post 5.3 EPS for the current fiscal year.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Kirby news, COO Christian G. O’neil sold 2,770 shares of Kirby stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the transaction, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,270 shares of company stock valued at $845,462. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KEX has been the topic of several research analyst reports. Bank of America boosted their price target on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus boosted their target price on Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $123.80.

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.