Tudor Investment Corp ET AL Acquires New Position in Kirby Corporation $KEX

Tudor Investment Corp ET AL bought a new stake in shares of Kirby Corporation (NYSE:KEX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 105,118 shares of the shipping company’s stock, valued at approximately $8,772,000. Tudor Investment Corp ET AL owned about 0.19% of Kirby as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC increased its position in shares of Kirby by 18.4% in the 3rd quarter. Peregrine Capital Management LLC now owns 131,000 shares of the shipping company’s stock valued at $10,932,000 after buying an additional 20,399 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Kirby in the third quarter valued at about $2,030,000. Intech Investment Management LLC grew its stake in Kirby by 239.4% in the third quarter. Intech Investment Management LLC now owns 15,762 shares of the shipping company’s stock valued at $1,315,000 after acquiring an additional 11,118 shares during the period. Luminus Management LLC increased its holdings in shares of Kirby by 292.0% in the third quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after acquiring an additional 87,120 shares in the last quarter. Finally, VELA Investment Management LLC lifted its holdings in shares of Kirby by 11.5% during the 3rd quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock valued at $13,392,000 after purchasing an additional 16,615 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KEX shares. Citigroup raised their price objective on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. BTIG Research cut their price target on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Wolfe Research reiterated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a report on Friday, January 30th. Evercore restated an “outperform” rating and issued a $138.00 target price on shares of Kirby in a research note on Monday, March 9th. Finally, Weiss Ratings cut shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kirby presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.60.

Insider Buying and Selling

In related news, CFO Raj Kumar sold 3,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $132.70, for a total value of $398,100.00. Following the completion of the sale, the chief financial officer directly owned 4,494 shares in the company, valued at $596,353.80. The trade was a 40.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Amy D. Husted sold 11,667 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $129.33, for a total value of $1,508,893.11. Following the transaction, the vice president owned 14,814 shares in the company, valued at $1,915,894.62. The trade was a 44.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 71,495 shares of company stock valued at $9,226,173. Insiders own 0.80% of the company’s stock.

Kirby Trading Up 0.3%

NYSE KEX opened at $130.59 on Monday. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $134.69. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $126.39 and a 200-day moving average of $109.23. The company has a market cap of $7.00 billion, a PE ratio of 20.63, a PEG ratio of 1.17 and a beta of 0.83.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The firm had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same period in the prior year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.