Bessemer Group Inc. Buys 47,134 Shares of Kirby Co. (NYSE:KEX)

Bessemer Group Inc. increased its stake in shares of Kirby Co. (NYSE:KEX) by 23.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,710 shares of the shipping company’s stock after buying an additional 47,134 shares during the quarter. Bessemer Group Inc. owned 0.43% of Kirby worth $23,897,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in Kirby by 28.1% during the 1st quarter. Fifth Third Bancorp now owns 551 shares of the shipping company’s stock worth $53,000 after acquiring an additional 121 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Kirby during the fourth quarter worth about $53,000. Quest Partners LLC bought a new stake in Kirby in the 4th quarter worth about $58,000. Kapitalo Investimentos Ltda purchased a new stake in Kirby in the 4th quarter valued at about $165,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Kirby during the 4th quarter worth approximately $194,000. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Kirby stock traded down $3.27 during midday trading on Thursday, reaching $117.24. The stock had a trading volume of 147,235 shares, compared to its average volume of 447,889. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $6.86 billion, a PE ratio of 28.49, a P/E/G ratio of 0.77 and a beta of 1.18. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $130.90. The firm’s 50-day moving average price is $120.60 and its 200 day moving average price is $101.88.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.22. The company had revenue of $808.00 million for the quarter, compared to analyst estimates of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, research analysts predict that Kirby Co. will post 5.3 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other news, VP William Matthew Woodruff sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $109.25, for a total value of $409,687.50. Following the completion of the transaction, the vice president now directly owns 941 shares of the company’s stock, valued at $102,804.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Ronald A. Dragg sold 1,570 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $112.28, for a total transaction of $176,279.60. Following the sale, the vice president now owns 9,081 shares of the company’s stock, valued at approximately $1,019,614.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Matthew Woodruff sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $109.25, for a total transaction of $409,687.50. Following the completion of the transaction, the vice president now directly owns 941 shares of the company’s stock, valued at $102,804.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,319 shares of company stock worth $3,896,633. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KEX. BTIG Research increased their price target on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wolfe Research began coverage on Kirby in a research note on Monday, April 22nd. They set an “outperform” rating and a $126.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Bank of America lifted their price objective on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $123.80.

Kirby Company 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.