Diamond Hill Capital Management Inc. Has $5.97 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Diamond Hill Capital Management Inc. lessened its holdings in Kirby Co. (NYSE:KEX - Free Report) by 29.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,763 shares of the shipping company's stock after selling 20,830 shares during the period. Diamond Hill Capital Management Inc. owned 0.08% of Kirby worth $5,970,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KEX. Select Equity Group L.P. purchased a new position in shares of Kirby during the 2nd quarter worth $65,928,000. Lord Abbett & CO. LLC bought a new stake in shares of Kirby during the first quarter worth about $22,877,000. Encompass Capital Advisors LLC grew its stake in shares of Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock worth $106,246,000 after acquiring an additional 224,802 shares during the period. Artemis Investment Management LLP purchased a new position in Kirby during the third quarter valued at $22,106,000. Finally, F M Investments LLC purchased a new stake in Kirby during the second quarter valued at approximately $14,185,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Insider Transactions at Kirby

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares of the company's stock, valued at $7,637,043.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christian G. O'neil sold 14,031 shares of Kirby stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total transaction of $1,729,881.99. Following the sale, the chief operating officer now owns 12,746 shares of the company's stock, valued at $1,571,454.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,555 shares of company stock valued at $5,560,430. 1.50% of the stock is currently owned by company insiders.

Kirby Stock Performance

KEX stock traded down $1.68 during mid-day trading on Tuesday, reaching $128.87. 282,806 shares of the stock traded hands, compared to its average volume of 457,577. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $121.37 and a two-hundred day moving average of $119.34. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $132.04. The firm has a market capitalization of $7.46 billion, a PE ratio of 24.50, a P/E/G ratio of 0.75 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 the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.49%. The company had revenue of $831.10 million for the quarter, compared to analysts' expectations of $824.42 million. During the same period last year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Kirby Co. will post 5.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KEX shares. StockNews.com cut Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. Bank of America boosted their price objective on shares of Kirby from $138.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.80.

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.