BNP Paribas Financial Markets Sells 5,566 Shares of Kirby Co. (NYSE:KEX)

BNP Paribas Financial Markets decreased its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 54.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,594 shares of the shipping company's stock after selling 5,566 shares during the period. BNP Paribas Financial Markets' holdings in Kirby were worth $562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group bought a new position in Kirby during the 3rd quarter valued at approximately $42,000. Advantage Alpha Capital Partners LP grew its holdings in shares of Kirby by 51.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 48,693 shares of the shipping company's stock worth $5,961,000 after acquiring an additional 16,497 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in shares of Kirby by 96.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,816 shares of the shipping company's stock worth $1,079,000 after acquiring an additional 4,331 shares during the period. Algert Global LLC grew its holdings in shares of Kirby by 32.7% during the 3rd quarter. Algert Global LLC now owns 92,527 shares of the shipping company's stock worth $11,328,000 after acquiring an additional 22,778 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Kirby by 68.6% during the 3rd quarter. Cerity Partners LLC now owns 8,152 shares of the shipping company's stock worth $998,000 after acquiring an additional 3,317 shares during the period. Institutional investors own 96.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Kirby from a "hold" rating to a "buy" rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kirby has an average rating of "Buy" and an average price target of $123.80.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 2,853 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares of the company's stock, valued at approximately $668,131.20. This represents a 35.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 7,683 shares in the company, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,596 shares of company stock worth $8,541,440 in the last 90 days. Insiders own 1.50% of the company's stock.

Kirby Stock Down 0.4 %

Shares of Kirby stock traded down $0.46 during midday trading on Friday, hitting $117.45. The company had a trading volume of 456,912 shares, compared to its average volume of 455,009. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The stock has a market capitalization of $6.74 billion, a P/E ratio of 22.54, a P/E/G ratio of 0.70 and a beta of 1.18. The company has a 50 day moving average of $123.46 and a 200 day moving average of $120.87. Kirby Co. has a 52-week low of $74.88 and a 52-week high of $132.21.

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