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

Charles Schwab Investment Management Inc. increased its position in shares of Kirby Co. (NYSE:KEX) by 27.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 699,052 shares of the shipping company’s stock after acquiring an additional 152,146 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.21% of Kirby worth $85,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Premier Fund Managers Ltd lifted its holdings in Kirby by 12.3% in the third quarter. Premier Fund Managers Ltd now owns 11,850 shares of the shipping company’s stock valued at $1,485,000 after acquiring an additional 1,300 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Kirby in the 3rd quarter valued at $214,000. Pathstone Holdings LLC grew its holdings in shares of Kirby by 3.6% during the 3rd quarter. Pathstone Holdings LLC now owns 12,554 shares of the shipping company’s stock worth $1,537,000 after purchasing an additional 432 shares during the period. Quest Partners LLC increased its position in shares of Kirby by 0.7% during the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock worth $1,526,000 after purchasing an additional 89 shares during the last quarter. Finally, Chesapeake Capital Corp IL raised its holdings in Kirby by 28.2% in the 3rd quarter. Chesapeake Capital Corp IL now owns 4,959 shares of the shipping company’s stock valued at $622,000 after buying an additional 1,090 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling at Kirby

In other Kirby news, COO Christian G. O’neil sold 14,031 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total transaction of $1,729,881.99. Following the sale, the chief operating officer now owns 12,746 shares in the company, valued at $1,571,454.34. This represents a 52.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby 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 transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock valued at $8,541,440 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Kirby Price Performance

KEX opened at $126.36 on Thursday. The stock’s 50-day moving average price is $124.13 and its 200 day moving average price is $120.71. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.21. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 0.77 and a beta of 1.17. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, sell-side analysts expect that Kirby Co. will post 5.45 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.