GAMMA Investing LLC Has $6.86 Million Position in Kirby Co. (NYSE:KEX)

GAMMA Investing LLC grew its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 15,397.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,879 shares of the shipping company's stock after buying an additional 67,441 shares during the quarter. GAMMA Investing LLC owned approximately 0.12% of Kirby worth $6,856,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Kirby by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company's stock valued at $186,488,000 after acquiring an additional 28,259 shares during the last quarter. Select Equity Group L.P. grew its stake in Kirby by 59.0% in the fourth quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock valued at $165,650,000 after purchasing an additional 581,215 shares in the last quarter. First Trust Advisors LP grew its stake in Kirby by 69.7% in the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock valued at $92,712,000 after purchasing an additional 359,770 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Kirby by 14.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 815,008 shares of the shipping company's stock worth $86,228,000 after purchasing an additional 100,655 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Kirby by 11.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 754,785 shares of the shipping company's stock worth $79,856,000 after purchasing an additional 76,436 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America upped their target price on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a report on Friday, May 16th.

Kirby Price Performance

KEX traded down $0.23 on Thursday, hitting $112.52. 349,606 shares of the stock were exchanged, compared to its average volume of 544,100. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 0.88 and a beta of 0.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. Kirby Co. has a 12 month low of $83.94 and a 12 month high of $132.21. The business has a 50-day moving average of $102.95 and a two-hundred day moving average of $105.85.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.27 by $0.06. The company had revenue of $785.66 million during the quarter, compared to analysts' expectations of $824.12 million. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 EPS. Sell-side analysts forecast that Kirby Co. will post 6.57 EPS for the current fiscal year.

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.