Oppenheimer Asset Management Inc. Has $359,000 Holdings in Kirby Co. (KEX)

Oppenheimer Asset Management Inc. grew its holdings in shares of Kirby Co. (NYSE:KEX) by 28.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,369 shares of the shipping company’s stock after buying an additional 967 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Kirby were worth $359,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NumerixS Investment Technologies Inc bought a new stake in Kirby during the 2nd quarter worth about $163,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kirby during the 1st quarter worth about $193,000. Greenwood Capital Associates LLC acquired a new position in shares of Kirby during the 2nd quarter worth about $206,000. CIBC Asset Management Inc acquired a new position in shares of Kirby during the 2nd quarter worth about $210,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Kirby during the 2nd quarter worth about $225,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director J H. Pyne sold 52,934 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $87.88, for a total value of $4,651,839.92. Following the transaction, the director now owns 225,233 shares in the company, valued at approximately $19,793,476.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christian G. O’neil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $86.75, for a total transaction of $130,125.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,604 shares of company stock worth $5,057,375. 2.40% of the stock is owned by company insiders.

Several research firms have recently weighed in on KEX. ValuEngine upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Gabelli upgraded shares of Kirby from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Monday, July 30th. Zacks Investment Research lowered shares of Kirby from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Wells Fargo & Co lowered their price objective on shares of Kirby from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $89.25.

Kirby stock opened at $76.86 on Friday. Kirby Co. has a fifty-two week low of $61.80 and a fifty-two week high of $94.05. The stock has a market cap of $4.54 billion, a PE ratio of 37.49, a PEG ratio of 2.03 and a beta of 1.00. The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.43.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, October 25th. The shipping company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. Kirby had a net margin of 11.30% and a return on equity of 5.05%. The business had revenue of $704.85 million for the quarter, compared to analyst estimates of $780.20 million. Research analysts expect that Kirby Co. will post 2.82 EPS for the current fiscal year.

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Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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