Kirby Co. (NYSE:KEX) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Kirby Co. (NYSE:KEX) by 27.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 699,052 shares of the shipping company’s stock after buying an additional 152,146 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Kirby were worth $85,585,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Encompass Capital Advisors LLC lifted its position in Kirby by 33.9% in the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after acquiring an additional 224,802 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Kirby by 5.7% during the second quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company’s stock worth $97,255,000 after purchasing an additional 43,685 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of Kirby in the 2nd quarter valued at about $65,928,000. Millennium Management LLC boosted its position in shares of Kirby by 13.1% in the 2nd quarter. Millennium Management LLC now owns 533,326 shares of the shipping company’s stock valued at $63,855,000 after purchasing an additional 61,573 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Kirby by 68.7% during the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after buying an additional 194,410 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Price Performance

Shares of KEX opened at $126.36 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $132.21. The firm has a 50-day simple moving average of $124.13 and a 200-day simple moving average of $120.71. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. On average, equities research analysts anticipate that Kirby Co. will post 5.45 earnings per share for the current year.

Insider Activity at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was a 35.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,596 shares of company stock worth $8,541,440 in the last three months. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.