Zurcher Kantonalbank Zurich Cantonalbank Purchases 895 Shares of Kirby Co. (NYSE:KEX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kirby Co. (NYSE:KEX) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,150 shares of the shipping company’s stock after acquiring an additional 895 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kirby were worth $247,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in shares of Kirby by 80.5% in the 3rd quarter. Raymond James & Associates now owns 5,809 shares of the shipping company’s stock worth $481,000 after buying an additional 2,590 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Kirby in the 3rd quarter worth about $869,000. Washington Capital Management Inc. purchased a new position in shares of Kirby in the 3rd quarter worth about $1,389,000. Panagora Asset Management Inc. purchased a new position in shares of Kirby in the 3rd quarter worth about $226,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Kirby by 10.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 14,028 shares of the shipping company’s stock worth $1,162,000 after buying an additional 1,327 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 18,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $85.44, for a total value of $1,537,920.00. Following the sale, the chief executive officer now directly owns 66,399 shares of the company’s stock, valued at $5,673,130.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO David W. Grzebinski sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $85.44, for a total value of $1,537,920.00. Following the transaction, the chief executive officer now directly owns 66,399 shares in the company, valued at $5,673,130.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP William Matthew Woodruff sold 3,750 shares of the firm’s 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 completion of the sale, the vice president now directly owns 941 shares in the company, valued at $102,804.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,022 shares of company stock valued at $3,911,911. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in 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 target on the stock. Stifel Nicolaus upped their price objective on shares of Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a report on Friday, April 19th. Stephens reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Kirby in a report on Monday, February 5th. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Finally, BTIG Research upped their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Kirby has an average rating of “Buy” and a consensus price target of $116.00.

Kirby Price Performance

NYSE KEX opened at $112.00 on Tuesday. Kirby Co. has a 52 week low of $69.22 and a 52 week high of $114.35. The company has a market cap of $6.55 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.77 and a beta of 1.14. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $96.06 and its two-hundred day simple moving average is $84.96.

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, topping analysts’ consensus estimates of $0.97 by $0.22. Kirby had a net margin of 8.01% and a return on equity of 8.00%. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts predict that Kirby Co. will post 5.2 earnings per share for the current year.

About Kirby

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.