Readystate Asset Management LP Has $12.65 Million Stock Position in Kirby Co. (NYSE:KEX)

Readystate Asset Management LP increased its holdings in shares of Kirby Co. (NYSE:KEX) by 36.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,143 shares of the shipping company’s stock after purchasing an additional 42,743 shares during the period. Readystate Asset Management LP owned approximately 0.28% of Kirby worth $12,647,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in Kirby by 923.2% in the fourth quarter. Morgan Stanley now owns 4,248,727 shares of the shipping company’s stock worth $273,406,000 after acquiring an additional 3,833,471 shares in the last quarter. Park West Asset Management LLC bought a new position in Kirby in the fourth quarter worth approximately $61,824,000. FIL Ltd lifted its holdings in shares of Kirby by 435.3% in the fourth quarter. FIL Ltd now owns 818,694 shares of the shipping company’s stock valued at $64,251,000 after purchasing an additional 665,744 shares in the last quarter. Norges Bank bought a new position in shares of Kirby in the fourth quarter valued at approximately $42,762,000. Finally, FMR LLC lifted its holdings in shares of Kirby by 30.9% in the third quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock valued at $173,886,000 after purchasing an additional 495,541 shares in the last quarter. Institutional investors and hedge funds 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. BTIG Research raised their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Stephens restated an “overweight” rating and issued a $105.00 target price on shares of Kirby in a report on Monday, February 5th.

Insider Buying and Selling

In other Kirby news, insider Christian G. O’neil sold 8,994 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total value of $765,839.10. Following the completion of the sale, the insider now directly owns 16,079 shares of the company’s stock, valued at $1,369,126.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kirby news, insider Christian G. O’neil sold 8,994 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total value of $765,839.10. Following the completion of the sale, the insider now directly owns 16,079 shares of the company’s stock, valued at $1,369,126.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott P. Miller sold 487 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total value of $48,592.86. Following the completion of the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at $99,780. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,418 shares of company stock worth $4,932,521. 1.40% of the stock is owned by company insiders.

Kirby Stock Performance

Kirby stock traded down $1.46 during mid-day trading on Wednesday, reaching $95.08. 337,654 shares of the company’s stock were exchanged, compared to its average volume of 388,063. The business’s fifty day simple moving average is $90.58 and its 200 day simple moving average is $82.68. The firm has a market capitalization of $5.56 billion, a PE ratio of 25.56, a P/E/G ratio of 1.64 and a beta of 1.21. Kirby Co. has a one year low of $66.42 and a one year high of $101.17. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.32.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $799.18 million for the quarter, compared to analyst estimates of $778.70 million. Kirby had a return on equity of 7.12% and a net margin of 7.21%. Kirby’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. On average, sell-side analysts expect that Kirby Co. will post 4.94 earnings per share for the current year.

Kirby Company 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.