41,503 Shares in Kirby Co. (NYSE:KEX) Bought by Franklin Resources Inc.

Franklin Resources Inc. purchased a new position in shares of Kirby Co. (NYSE:KEX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,503 shares of the shipping company's stock, valued at approximately $5,136,000. Franklin Resources Inc. owned approximately 0.07% of Kirby at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock worth $25,000 after acquiring an additional 168 shares during the period. International Assets Investment Management LLC bought a new stake in Kirby during the second quarter worth $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Kirby in the 3rd quarter valued at $30,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Kirby during the 2nd quarter worth $37,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Kirby in the second quarter worth about $38,000. Institutional investors own 96.15% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $123.80.

Insider Buying and Selling

In related news, VP Ronald A. Dragg sold 2,313 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the sale, the director now owns 15,488 shares of the company's stock, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,354 shares of company stock valued at $3,275,455 over the last ninety days. 1.50% of the stock is owned by company insiders.

Kirby Trading Up 0.7 %

NYSE KEX traded up $0.70 on Tuesday, hitting $106.41. The company's stock had a trading volume of 201,097 shares, compared to its average volume of 469,649. The company's 50-day moving average is $121.69 and its 200 day moving average is $120.31. The firm has a market cap of $6.11 billion, a PE ratio of 20.42, a PEG ratio of 0.70 and a beta of 1.18. Kirby Co. has a 1-year low of $74.88 and a 1-year high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. The business had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. Kirby's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. As a group, analysts predict that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Kirby 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.