Squarepoint Ops LLC Increases Stock Position in Kirby Co. (NYSE:KEX)

Squarepoint Ops LLC boosted its position in Kirby Co. (NYSE:KEX - Free Report) by 11,498.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,508 shares of the shipping company's stock after acquiring an additional 192,831 shares during the quarter. Squarepoint Ops LLC owned 0.34% of Kirby worth $20,579,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KEX. Norges Bank acquired a new stake in Kirby in the fourth quarter valued at approximately $74,293,000. Select Equity Group L.P. raised its holdings 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 acquiring an additional 581,215 shares in the last quarter. First Trust Advisors LP raised its holdings 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 acquiring an additional 359,770 shares in the last quarter. Franklin Resources Inc. raised its holdings in Kirby by 848.5% in the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock valued at $41,648,000 after acquiring an additional 352,144 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Kirby in the fourth quarter valued at approximately $18,749,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Stock Up 2.8%

KEX stock traded up $3.04 during midday trading on Tuesday, reaching $110.43. 88,686 shares of the company were exchanged, compared to its average volume of 605,713. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. Kirby Co. has a 1-year low of $83.94 and a 1-year high of $132.21. The stock's 50-day simple moving average is $100.22 and its 200 day simple moving average is $106.96. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The company had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. During the same quarter last year, the company earned $1.19 earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Kirby Co. will post 6.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

KEX has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price objective on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Bank of America raised their price objective on shares of Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 16th.

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.