Oppenheimer Asset Management Inc. Has $9.69 Million Position in Kirby Co. (NYSE:KEX)

Oppenheimer Asset Management Inc. raised its stake in Kirby Co. (NYSE:KEX) by 15.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,141 shares of the shipping company’s stock after buying an additional 10,639 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.14% of Kirby worth $9,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Americana Partners LLC increased its stake in shares of Kirby by 2.1% in the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after acquiring an additional 100 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Kirby by 0.4% in the 1st 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 increased its holdings in Kirby by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock worth $988,000 after buying an additional 122 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Kirby by 3.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock valued at $523,000 after acquiring an additional 133 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in 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 acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KEX shares. Bank of America raised their price target on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Stock Down 1.3 %

Kirby stock opened at $128.49 on Thursday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 0.77 and a beta of 1.17. The firm has a fifty day moving average price of $121.93 and a two-hundred day moving average price of $119.53. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $132.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 EPS. As a group, analysts forecast that Kirby Co. will post 5.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the sale, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Christian G. O’neil sold 15,041 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the completion of the transaction, the chief operating officer now owns 7,746 shares in the company, valued at approximately $1,006,980. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,596 shares of company stock valued at $7,515,760. 1.50% of the stock is owned by company insiders.

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.