Lathrop Investment Management Corp bought a new position in Kirby Co. (NYSE:KEX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 142,845 shares of the company’s stock, valued at approximately $10,078,000. Kirby comprises about 2.9% of Lathrop Investment Management Corp’s portfolio, making the stock its 22nd largest position. Lathrop Investment Management Corp owned about 0.26% of Kirby at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the company. Cantab Capital Partners LLP bought a new stake in Kirby during the fourth quarter worth approximately $178,000. LS Investment Advisors LLC raised its stake in Kirby by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,507 shares of the company’s stock worth $218,000 after buying an additional 185 shares during the period. Suntrust Banks Inc. raised its stake in Kirby by 15.0% in the third quarter. Suntrust Banks Inc. now owns 3,867 shares of the company’s stock worth $239,000 after buying an additional 504 shares during the period. Kempen Capital Management N.V. bought a new stake in Kirby during the third quarter worth approximately $252,000. Finally, Westwood Holdings Group Inc. raised its stake in Kirby by 3.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,250 shares of the company’s stock worth $283,000 after buying an additional 155 shares during the period. 99.40% of the stock is owned by institutional investors and hedge funds.
Shares of Kirby Co. (NYSE:KEX) traded down 1.02% on Thursday, reaching $67.65. The company’s stock had a trading volume of 135,215 shares. The company’s 50 day moving average price is $69.29 and its 200 day moving average price is $65.79. Kirby Co. has a 12-month low of $50.80 and a 12-month high of $73.40. The company has a market cap of $3.65 billion, a P/E ratio of 25.78 and a beta of 1.09.
Kirby (NYSE:KEX) last released its quarterly earnings results on Wednesday, February 1st. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.08. Kirby had a return on equity of 6.01% and a net margin of 7.99%. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $403.52 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. Analysts forecast that Kirby Co. will post $2.04 EPS for the current fiscal year.
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A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Kirby from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Jefferies Group LLC upped their price target on Kirby from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. Wells Fargo & Co upgraded Kirby from an “underperform” rating to a “market perform” rating in a research report on Friday, February 3rd. Finally, OTR Global upgraded Kirby to a “neutral” rating in a research report on Wednesday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.00.
In other news, VP Amy D. Husted sold 2,985 shares of Kirby stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $70.58, for a total value of $210,681.30. Following the transaction, the vice president now owns 19,862 shares in the company, valued at $1,401,859.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William G. Ivey sold 2,000 shares of Kirby stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $67.82, for a total value of $135,640.00. Following the completion of the transaction, the insider now owns 23,888 shares in the company, valued at approximately $1,620,084.16. The disclosure for this sale can be found here. Insiders have sold 9,768 shares of company stock worth $682,703 in the last 90 days. Company insiders own 2.60% of the company’s stock.
Kirby Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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