Advantage Alpha Capital Partners LP Boosts Stock Position in Kirby Co. (NYSE:KEX)

Advantage Alpha Capital Partners LP grew its position in Kirby Co. (NYSE:KEX - Free Report) by 51.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,693 shares of the shipping company's stock after purchasing an additional 16,497 shares during the quarter. Kirby makes up about 1.4% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 25th largest holding. Advantage Alpha Capital Partners LP owned approximately 0.08% of Kirby worth $5,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock worth $25,000 after buying an additional 168 shares during the period. International Assets Investment Management LLC bought a new position in shares of Kirby in the second quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Kirby during the third quarter worth about $30,000. ORG Partners LLC bought a new stake in Kirby during the 2nd quarter valued at approximately $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in Kirby in the 2nd quarter worth approximately $33,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kirby presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.80.

Insider Buying and Selling

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. This represents a 35.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the sale, the chief executive officer now owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. This represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,596 shares of company stock valued at $8,541,440 in the last ninety days. 1.40% of the stock is owned by company insiders.

Kirby Price Performance

Shares of Kirby stock traded down $0.69 during trading hours on Tuesday, reaching $129.79. The company's stock had a trading volume of 323,625 shares, compared to its average volume of 455,978. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. Kirby Co. has a one year low of $72.11 and a one year high of $132.21. The firm has a 50 day moving average price of $123.93 and a 200-day moving average price of $120.57. The stock has a market cap of $7.45 billion, a P/E ratio of 25.04, a P/E/G ratio of 0.76 and a beta of 1.17.

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

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.