Fmr LLC Lowers Position in Kirby Co. (NYSE:KEX)

FMR LLC reduced its position in Kirby Co. (NYSE:KEX - Free Report) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134,357 shares of the shipping company's stock after selling 27,831 shares during the quarter. FMR LLC owned 1.96% of Kirby worth $138,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in KEX. Farther Finance Advisors LLC raised its holdings in shares of Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock valued at $25,000 after acquiring an additional 168 shares in the last quarter. International Assets Investment Management LLC bought a new position in Kirby in the second quarter worth about $26,000. ORG Wealth Partners LLC bought a new position in Kirby in the third quarter worth about $30,000. ORG Partners LLC bought a new position in Kirby in the second quarter worth about $32,000. Finally, Opal Wealth Advisors LLC bought a new position in Kirby in the second quarter worth about $33,000. 96.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 of the company's stock, valued at approximately $978,045.90. This represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 63,399 shares of the company's stock, valued at $7,637,043.54. This trade represents a 29.37 % 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 quarter. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Kirby Stock Down 2.0 %

Shares of KEX traded down $2.43 during mid-day trading on Wednesday, hitting $120.95. 533,255 shares of the company traded hands, compared to its average volume of 456,365. The business has a 50 day moving average of $124.09 and a 200 day moving average of $121.02. The company has a market capitalization of $6.94 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 0.74 and a beta of 1.18. Kirby Co. has a 1-year low of $72.11 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 issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $824.42 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Kirby's revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts anticipate 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.