Bank of Montreal Can Lowers Position in Kirby Co. (NYSE:KEX)

Bank of Montreal Can lowered its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,727 shares of the shipping company's stock after selling 36,821 shares during the quarter. Bank of Montreal Can owned approximately 0.19% of Kirby worth $14,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEX. SG Americas Securities LLC raised its position in shares of Kirby by 201.8% during the second quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company's stock valued at $1,941,000 after buying an additional 10,841 shares during the last quarter. Quest Partners LLC lifted its stake in Kirby by 1,247.8% in the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company's stock worth $1,481,000 after purchasing an additional 11,455 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Kirby during the 1st quarter valued at about $755,000. First Hawaiian Bank purchased a new position in shares of Kirby during the second quarter valued at about $852,000. Finally, Samlyn Capital LLC increased its holdings in shares of Kirby by 7.8% in the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company's stock worth $38,284,000 after purchasing an additional 23,086 shares during the last quarter. Institutional investors own 96.15% of the company's stock.

Insider Buying and Selling

In other Kirby news, Director Richard Ross Stewart sold 8,000 shares of the company's stock in a transaction on 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 transaction, the director now owns 15,488 shares of the company's stock, valued at $1,985,716.48. This represents a 34.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Christian G. O'neil sold 15,041 shares of Kirby stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares of the company's stock, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,596 shares of company stock valued at $8,541,440. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research note on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.80.

Kirby Trading Up 0.1 %

KEX traded up $0.15 on Friday, hitting $126.51. The company had a trading volume of 273,235 shares, compared to its average volume of 414,119. The company has a market cap of $7.26 billion, a PE ratio of 24.28, a PEG ratio of 0.75 and a beta of 1.17. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The business's fifty day simple moving average is $124.16 and its 200 day simple moving average is $120.92. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (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 company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. During the same period last year, the company earned $1.05 earnings per share. Kirby's revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Kirby Co. will post 5.45 EPS for the current year.

About Kirby

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.