Massachusetts Financial Services Co. MA Buys Shares of 183,542 Kirby Corporation $KEX

Massachusetts Financial Services Co. MA bought a new stake in Kirby Corporation (NYSE:KEX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 183,542 shares of the shipping company’s stock, valued at approximately $20,223,000. Massachusetts Financial Services Co. MA owned approximately 0.34% of Kirby as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Maseco LLP bought a new stake in Kirby in the fourth quarter valued at approximately $27,000. First Horizon Corp bought a new stake in Kirby in the third quarter valued at approximately $30,000. Frazier Financial Advisors LLC increased its stake in Kirby by 559.3% in the third quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 481 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Kirby in the third quarter valued at approximately $53,000. Finally, FNY Investment Advisers LLC bought a new stake in Kirby in the third quarter valued at approximately $56,000. Institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling at Kirby

In related news, CEO David W. Grzebinski sold 34,152 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the completion of the transaction, the chief executive officer owned 98,241 shares in the company, valued at approximately $12,776,242.05. This represents a 25.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 5,429 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $122.00, for a total transaction of $662,338.00. Following the transaction, the vice president owned 10,399 shares of the company’s stock, valued at $1,268,678. The trade was a 34.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,495 shares of company stock valued at $9,226,173 in the last three months. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on KEX shares. Evercore reaffirmed an “outperform” rating and issued a $138.00 target price on shares of Kirby in a research note on Monday, March 9th. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 27th. Citigroup increased their price objective on shares of Kirby from $147.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Wolfe Research reissued an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.20.

Kirby Stock Up 0.8%

Shares of KEX stock opened at $143.58 on Friday. The firm has a fifty day moving average of $131.28 and a 200-day moving average of $115.75. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $144.64. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.36 and a beta of 0.83.

Kirby (NYSE:KEX) last issued its quarterly earnings data 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. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The company had revenue of $851.78 million during the quarter, compared to the consensus estimate of $857.82 million. During the same quarter in the prior year, the firm earned $1.29 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Kirby Company 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.