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

Tygh Capital Management Inc. boosted its stake in Kirby Co. (NYSE:KEX) by 53.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,565 shares of the shipping company’s stock after purchasing an additional 31,472 shares during the quarter. Tygh Capital Management Inc. owned about 0.15% of Kirby worth $6,100,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in shares of Kirby during the third quarter valued at about $206,000. Virtu Financial LLC bought a new position in shares of Kirby during the third quarter valued at about $262,000. Xact Kapitalforvaltning AB bought a new position in shares of Kirby during the fourth quarter valued at about $234,000. Paloma Partners Management Co bought a new position in shares of Kirby during the third quarter valued at about $320,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Kirby by 843.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the shipping company’s stock valued at $340,000 after purchasing an additional 3,703 shares in the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.

In other news, VP Ronald A. Dragg sold 630 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $74.28, for a total value of $46,796.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Amy D. Husted sold 4,731 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $73.90, for a total transaction of $349,620.90. Following the completion of the sale, the vice president now directly owns 19,102 shares in the company, valued at approximately $1,411,637.80. The disclosure for this sale can be found here. In the last three months, insiders sold 19,413 shares of company stock worth $1,448,350. Insiders own 2.40% of the company’s stock.

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

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, January 31st. The shipping company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The business had revenue of $721.49 million for the quarter, compared to analyst estimates of $698.14 million. Kirby had a net margin of 2.64% and a return on equity of 5.44%. Analysts forecast that Kirby Co. will post 3.58 earnings per share for the current year.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Kirby from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. ValuEngine lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Wells Fargo & Co set a $74.00 price objective on shares of Kirby and gave the stock a “hold” rating in a research report on Saturday, February 2nd. TheStreet lowered shares of Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st. Finally, BTIG Research assumed coverage on shares of Kirby in a research report on Friday, January 25th. They issued a “neutral” rating and a $67.40 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Kirby has an average rating of “Hold” and a consensus price target of $87.28.

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Kirby Company 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.

Further Reading: Return on Equity (ROE)

Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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