Hodges Capital Management Inc. Sells 10,250 Shares of Kirby Co. (NYSE:KEX)

Hodges Capital Management Inc. lessened its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,307 shares of the shipping company's stock after selling 10,250 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.08% of Kirby worth $5,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings 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 acquiring an additional 10,841 shares in the last quarter. Quest Partners LLC raised its holdings 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. Samlyn Capital LLC lifted its position in shares of Kirby by 7.8% in the 2nd 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 period. Creative Planning boosted its stake in shares of Kirby by 2.2% during the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company's stock valued at $818,000 after purchasing an additional 147 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Kirby by 27.5% during the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company's stock valued at $4,328,000 after buying an additional 7,629 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Stock Down 0.9 %

NYSE:KEX traded down $1.11 during mid-day trading on Friday, hitting $119.01. 384,210 shares of the company's stock were exchanged, compared to its average volume of 401,846. The company has a market cap of $6.83 billion, a PE ratio of 22.84, a P/E/G ratio of 0.71 and a beta of 1.18. 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 business has a fifty day moving average price of $123.91 and a 200 day moving average price of $121.01.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts' expectations of $824.42 million. During the same period in the previous year, the firm posted $1.05 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts predict that Kirby Co. will post 5.45 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Kirby from a "buy" rating to a "hold" rating in a research report on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Kirby currently has an average rating of "Moderate Buy" and an average price target of $123.80.

Insiders Place Their Bets

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of Kirby 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 owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Ross Stewart sold 8,000 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total value of $1,025,680.00. Following the transaction, the director now directly owns 15,488 shares in the company, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,596 shares of company stock valued at $8,541,440. 1.50% of the stock is currently owned by corporate insiders.

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.