Short Interest in Kirby Co. (NYSE:KEX) Declines By 16.3%

Kirby Co. (NYSE:KEX - Get Free Report) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 599,900 shares, a decrease of 16.3% from the November 30th total of 716,800 shares. Based on an average daily trading volume, of 486,800 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.1% of the shares of the company are short sold.

Kirby Price Performance

Kirby stock traded down $0.51 during midday trading on Friday, reaching $105.98. The company had a trading volume of 382,956 shares, compared to its average volume of 469,169. Kirby has a 12-month low of $74.88 and a 12-month high of $132.21. The firm's fifty day simple moving average is $120.37 and its 200-day simple moving average is $119.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The company has a market capitalization of $6.08 billion, a P/E ratio of 20.34, a P/E/G ratio of 0.69 and a beta of 1.18.

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

Analyst Ratings Changes

Separately, StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. One 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 has a consensus rating of "Moderate Buy" and an average price target of $123.80.

Insider Buying and Selling

In other Kirby news, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the transaction, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christian G. O'neil sold 15,041 shares of the company's stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,354 shares of company stock worth $3,275,455. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Kirby by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 463,275 shares of the shipping company's stock valued at $55,468,000 after purchasing an additional 13,130 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Kirby by 237.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 81,782 shares of the shipping company's stock valued at $9,792,000 after buying an additional 57,512 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kirby by 39.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,027 shares of the shipping company's stock worth $362,000 after buying an additional 858 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Kirby during the second quarter valued at about $26,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Kirby in the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

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.