First Dallas Securities Inc. Increases Stake in Kirby Corporation $KEX

First Dallas Securities Inc. raised its holdings in shares of Kirby Corporation (NYSE:KEX) by 25.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,525 shares of the shipping company’s stock after purchasing an additional 7,390 shares during the quarter. Kirby makes up approximately 1.1% of First Dallas Securities Inc.’s portfolio, making the stock its 25th largest holding. First Dallas Securities Inc. owned 0.07% of Kirby worth $3,048,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. IFP Advisors Inc purchased a new stake in shares of Kirby during the 2nd quarter valued at approximately $29,000. First Horizon Corp purchased a new position in Kirby in the 3rd quarter valued at approximately $30,000. Bell Investment Advisors Inc raised its holdings in Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 114 shares during the period. True Wealth Design LLC raised its holdings in Kirby by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 308 shares during the period. Finally, Frazier Financial Advisors LLC lifted its position in shares of Kirby by 559.3% during the third quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock worth $47,000 after acquiring an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KEX. Wolfe Research reiterated an “outperform” rating and issued a $136.00 price target on shares of Kirby in a research report on Friday, January 30th. Evercore upped their price target on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Citigroup raised their price objective on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Insider Activity

In related news, COO Christian G. O’neil sold 11,145 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the transaction, the chief operating officer directly owned 14,835 shares of the company’s stock, valued at approximately $1,656,772.80. This trade represents a 42.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Ross Stewart sold 1,923 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $107.83, for a total value of $207,357.09. Following the completion of the sale, the director owned 15,488 shares of the company’s stock, valued at $1,670,071.04. The trade was a 11.04% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 62,576 shares of company stock worth $6,866,882. 0.90% of the stock is currently owned by insiders.

Kirby Stock Performance

Kirby stock opened at $122.61 on Friday. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $132.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70. The stock has a market cap of $6.65 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.88. The firm’s fifty day moving average price is $117.87 and its 200-day moving average price is $103.80.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. On average, equities research analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Kirby Profile

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.