Tygh Capital Management Inc. Grows Holdings in Kirby Co. (KEX)

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Tygh Capital Management Inc. grew its stake in Kirby Co. (NYSE:KEX) by 53.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 90,565 shares of the shipping company’s stock after buying an additional 31,472 shares during the quarter. Tygh Capital Management Inc.’s holdings in Kirby were worth $6,100,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KEX. Baillie Gifford & Co. boosted its stake in shares of Kirby by 87.1% in the 3rd quarter. Baillie Gifford & Co. now owns 5,700,947 shares of the shipping company’s stock valued at $468,902,000 after purchasing an additional 2,653,183 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Kirby by 2.0% in the 3rd quarter. BlackRock Inc. now owns 5,063,560 shares of the shipping company’s stock valued at $416,479,000 after purchasing an additional 101,346 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Kirby by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,718,116 shares of the shipping company’s stock valued at $388,066,000 after purchasing an additional 107,010 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Kirby by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 4,718,116 shares of the shipping company’s stock valued at $388,066,000 after purchasing an additional 107,010 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its stake in shares of Kirby by 1.7% in the 3rd quarter. Atlanta Capital Management Co. L L C now owns 4,441,618 shares of the shipping company’s stock valued at $365,323,000 after purchasing an additional 74,902 shares in the last quarter. 96.76% of the stock is owned by institutional investors and hedge funds.

NYSE:KEX traded up $0.67 during midday trading on Tuesday, reaching $74.69. 2,002 shares of the stock traded hands, compared to its average volume of 489,768. Kirby Co. has a 12 month low of $60.63 and a 12 month high of $94.05. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $4.41 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.54 and a beta of 1.10.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 31st. The shipping company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. Kirby had a net margin of 2.64% and a return on equity of 5.44%. The company had revenue of $721.49 million during the quarter, compared to analyst estimates of $698.14 million. As a group, analysts anticipate that Kirby Co. will post 3.58 EPS for the current year.

In related news, CEO David W. Grzebinski sold 8,052 shares of the company’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $75.24, for a total transaction of $605,832.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Ronald A. Dragg sold 630 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $74.28, for a total transaction of $46,796.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,413 shares of company stock valued at $1,448,350 over the last quarter. 2.40% of the stock is currently owned by company insiders.

KEX has been the subject of a number of research reports. Wells Fargo & Co cut their price objective on shares of Kirby from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, October 29th. ValuEngine raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. BTIG Research initiated coverage on shares of Kirby in a research note on Friday, January 25th. They issued a “neutral” rating and a $67.40 price objective for the company. TheStreet cut shares of Kirby from a “b-” rating to a “c” rating in a research note on Thursday, January 31st. Finally, Zacks Investment Research cut shares of Kirby from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $87.28.

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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.

See Also: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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