Mount Yale Investment Advisors LLC Makes New Investment in Kirby Co. (NYSE:KEX)

Mount Yale Investment Advisors LLC acquired a new position in shares of Kirby Co. (NYSE:KEX) during the first quarter, HoldingsChannel reports. The institutional investor acquired 2,298 shares of the shipping company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park West Asset Management LLC acquired a new position in Kirby in the 4th quarter valued at $61,824,000. Norges Bank acquired a new position in Kirby in the 4th quarter valued at about $51,781,000. Lord Abbett & CO. LLC acquired a new position in Kirby in the 1st quarter valued at about $22,877,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Kirby by 21.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock valued at $85,432,000 after acquiring an additional 157,880 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Kirby by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company’s stock valued at $478,549,000 after acquiring an additional 81,808 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Performance

NYSE KEX traded up $0.56 during trading hours on Tuesday, hitting $121.15. The company had a trading volume of 33,295 shares, compared to its average volume of 449,859. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $130.90. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $120.73 and a 200-day simple moving average of $102.96. The firm has a market cap of $7.09 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18.

Insiders Place Their Bets

In other Kirby news, VP William Matthew Woodruff sold 3,750 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $109.25, for a total value of $409,687.50. Following the sale, the vice president now directly owns 941 shares of the company’s stock, valued at $102,804.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,627,533.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Matthew Woodruff sold 3,750 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $109.25, for a total value of $409,687.50. Following the completion of the transaction, the vice president now owns 941 shares of the company’s stock, valued at approximately $102,804.25. The disclosure for this sale can be found here. Insiders have sold 32,643 shares of company stock valued at $3,822,543 over the last three months. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

KEX has been the subject of a number of research analyst reports. Bank of America increased their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. BTIG Research upped their price target on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Wolfe Research initiated coverage on Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price target for the company. Finally, Stifel Nicolaus increased their target price on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $123.80.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.