Peregrine Capital Management LLC decreased its holdings in Kirby Corporation (NYSE:KEX – Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,161 shares of the shipping company’s stock after selling 20,172 shares during the quarter. Peregrine Capital Management LLC’s holdings in Kirby were worth $13,708,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC grew its holdings in shares of Kirby by 4.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company’s stock worth $255,000 after purchasing an additional 77 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Kirby by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock valued at $81,000 after buying an additional 114 shares during the last quarter. Xponance Inc. raised its holdings in shares of Kirby by 1.8% in the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock valued at $568,000 after buying an additional 118 shares during the last quarter. Procyon Advisors LLC lifted its position in Kirby by 4.6% during the 4th quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company’s stock worth $301,000 after buying an additional 121 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in Kirby by 2.5% during the 4th quarter. M&T Bank Corp now owns 5,179 shares of the shipping company’s stock worth $571,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
Kirby Stock Down 1.2%
NYSE:KEX opened at $135.82 on Wednesday. The firm has a market capitalization of $7.27 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.41 and a beta of 0.81. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $157.69. The stock’s fifty day simple moving average is $143.55 and its 200-day simple moving average is $132.06. The company has a quick ratio of 1.01, a current ratio of 1.59 and a debt-to-equity ratio of 0.29.
Analysts Set New Price Targets
KEX has been the subject of several research reports. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Citigroup increased their price target on shares of Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. BTIG Research raised their price target on shares of Kirby from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Evercore restated an “outperform” rating and issued a $158.00 price objective on shares of Kirby in a research report on Friday, May 1st. Finally, Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Kirby currently has a consensus rating of “Moderate Buy” and an average price target of $146.20.
Get Our Latest Research Report on KEX
Insider Activity
In other news, VP Amy D. Husted sold 4,000 shares of Kirby stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.43, for a total transaction of $581,720.00. Following the transaction, the vice president directly owned 10,814 shares of the company’s stock, valued at $1,572,680.02. This trade represents a 27.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ronald A. Dragg sold 1,726 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $145.01, for a total transaction of $250,287.26. Following the completion of the transaction, the vice president directly owned 8,673 shares of the company’s stock, valued at $1,257,671.73. This trade represents a 16.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,691 shares of company stock worth $2,579,036 in the last ninety days. Company insiders own 0.80% of the company’s stock.
About Kirby
Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.
In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.
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