Free Trial

Benson Investment Management Company Inc. Invests $3.66 Million in Kirby Co. (NYSE:KEX)

Kirby logo with Transportation background

Benson Investment Management Company Inc. bought a new stake in Kirby Co. (NYSE:KEX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 38,382 shares of the shipping company's stock, valued at approximately $3,659,000. Benson Investment Management Company Inc. owned about 0.07% of Kirby as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank lifted its position in Kirby by 0.9% during the 3rd quarter. Swiss National Bank now owns 32,957 shares of the shipping company's stock worth $2,729,000 after acquiring an additional 300 shares during the period. Pathstone Family Office LLC acquired a new stake in shares of Kirby during the third quarter worth $258,000. HighTower Advisors LLC increased its stake in Kirby by 6.8% in the 3rd quarter. HighTower Advisors LLC now owns 20,956 shares of the shipping company's stock valued at $1,730,000 after buying an additional 1,341 shares during the period. Prudential PLC acquired a new position in Kirby in the 3rd quarter valued at $689,000. Finally, Envestnet Asset Management Inc. raised its position in Kirby by 355.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 47,027 shares of the shipping company's stock worth $3,894,000 after buying an additional 36,698 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KEX. Wolfe Research initiated coverage on shares of Kirby in a research note on Monday, April 22nd. They set an "outperform" rating and a $126.00 price target on the stock. Bank of America increased their target price on Kirby from $131.00 to $138.00 and gave the stock a "buy" rating in a research note on Monday, June 17th. BTIG Research lifted their price target on Kirby from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. StockNews.com raised Kirby from a "hold" rating to a "buy" rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus upped their price target on shares of Kirby from $131.00 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, May 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $123.20.


Check Out Our Latest Research Report on Kirby

Kirby Price Performance

KEX stock traded down $0.62 during midday trading on Friday, hitting $117.80. 1,085,721 shares of the stock were exchanged, compared to its average volume of 416,832. The stock's 50-day moving average price is $114.05 and its 200-day moving average price is $94.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.81. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 0.72 and a beta of 1.17. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $124.92.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.22. The business had revenue of $808.00 million during the quarter, compared to the consensus estimate of $784.49 million. Kirby had a return on equity of 7.96% and a net margin of 8.01%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. Research analysts predict that Kirby Co. will post 5.3 earnings per share for the current year.

Insider Buying and Selling at Kirby

In other news, VP Amy D. Husted sold 7,853 shares of the firm's stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total transaction of $961,992.50. Following the completion of the transaction, the vice president now directly owns 5,280 shares of the company's stock, valued at approximately $646,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Amy D. Husted sold 7,853 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $122.50, for a total transaction of $961,992.50. Following the sale, the vice president now owns 5,280 shares of the company's stock, valued at $646,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dorman Lynn Strahan sold 3,423 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $95.11, for a total transaction of $325,561.53. Following the completion of the transaction, the insider now directly owns 21,054 shares of the company's stock, valued at approximately $2,002,445.94. The disclosure for this sale can be found here. Insiders have sold 40,934 shares of company stock valued at $4,547,167 over the last quarter. Corporate insiders own 1.50% of the company's stock.

Kirby Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Kirby (NYSE:KEX)

Should you invest $1,000 in Kirby right now?

Before you consider Kirby, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kirby wasn't on the list.

While Kirby currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 Stocks to Sell Now Cover

MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Opportunities Arise as Stock Market Rotates from Big Tech
3 Top Market Leaders Splitting Their Stocks
How to Navigate Stock Downgrades

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines