Bridgewater Associates LP Takes $6.78 Million Position in Kirby Co. (NYSE:KEX)

Bridgewater Associates LP bought a new stake in shares of Kirby Co. (NYSE:KEX) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 55,405 shares of the shipping company’s stock, valued at approximately $6,783,000. Bridgewater Associates LP owned approximately 0.10% of Kirby as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KEX. Lazard Asset Management LLC bought a new stake in Kirby in the first quarter valued at $45,000. Price T Rowe Associates Inc. MD lifted its holdings in Kirby by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,585 shares of the shipping company’s stock valued at $2,916,000 after purchasing an additional 1,806 shares during the last quarter. Tidal Investments LLC acquired a new position in Kirby in the first quarter valued at about $755,000. Westwood Holdings Group Inc. bought a new stake in Kirby during the first quarter worth about $238,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Kirby during the first quarter worth approximately $401,000. Institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. This represents a 35.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,596 shares of company stock valued at $8,541,440 in the last 90 days. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Stock Performance

Shares of NYSE:KEX opened at $126.51 on Friday. The stock has a market capitalization of $7.26 billion, a P/E ratio of 24.28, a P/E/G ratio of 0.75 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 Co. has a 1-year low of $72.11 and a 1-year high of $132.21. The business has a 50-day moving average price of $124.16 and a two-hundred day moving average price of $120.84.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The business had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. During the same period in the prior year, the business posted $1.05 earnings per share. Kirby’s revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Kirby Co. will post 5.45 earnings per share for the current year.

About Kirby

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.