Meeder Asset Management Inc. Acquires 10,449 Shares of Kirby Co. (NYSE:KEX)

Meeder Asset Management Inc. grew its holdings in shares of Kirby Co. (NYSE:KEX) by 78.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,776 shares of the shipping company’s stock after purchasing an additional 10,449 shares during the quarter. Meeder Asset Management Inc.’s holdings in Kirby were worth $2,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of KEX. CANADA LIFE ASSURANCE Co raised its holdings in Kirby by 0.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock valued at $2,792,000 after buying an additional 108 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Kirby by 1.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock valued at $988,000 after acquiring an additional 122 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Kirby by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock worth $1,388,000 after purchasing an additional 124 shares during the last quarter. Blue Trust Inc. lifted its holdings in Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position 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 purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insider Transactions at Kirby

In related news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total value 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 the SEC website. In related 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 value of $360,930.00. Following the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Kirby Price Performance

NYSE:KEX opened at $116.38 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The stock has a market cap of $6.74 billion, a P/E ratio of 27.51, a PEG ratio of 0.71 and a beta of 1.17. The company has a fifty day moving average price of $118.20 and a 200 day moving average price of $110.56. Kirby Co. has a one year low of $72.11 and a one year high of $130.90.

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

Wall Street Analyst Weigh In

KEX has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Bank of America raised their price target on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

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.