Dynamic Technology Lab Private Ltd Increases Position in Kirby Co. (NYSE:KEX)

Dynamic Technology Lab Private Ltd increased its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 96.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,816 shares of the shipping company's stock after purchasing an additional 4,331 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Kirby were worth $1,079,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KEX. Farther Finance Advisors LLC grew its holdings in Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock valued at $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Kirby during the second quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in Kirby during the 3rd quarter worth about $30,000. ORG Partners LLC acquired a new position in Kirby in the 2nd quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in Kirby in the 2nd quarter valued at about $33,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Kirby Trading Down 2.6 %

Shares of KEX stock traded down $3.43 during trading hours on Wednesday, hitting $126.36. 422,525 shares of the company were exchanged, compared to its average volume of 455,785. The firm has a fifty day moving average of $124.07 and a 200 day moving average of $120.67. 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 Co. has a 1 year low of $72.11 and a 1 year high of $132.21. The firm has a market cap of $7.25 billion, a PE ratio of 24.91, a PEG ratio of 0.77 and a beta of 1.17.

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 analysts' consensus estimates of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company 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 firm posted $1.05 earnings per share. Kirby's revenue was up 8.7% on a year-over-year basis. Analysts expect that Kirby Co. will post 5.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the vice president now 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 disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock worth $8,541,440 over the last three months. 1.40% of the stock is owned by insiders.

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.