Lathrop Investment Management Corp Has $19.20 Million Stake in Kirby Co. (NYSE:KEX)

Lathrop Investment Management Corp reduced its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 156,795 shares of the shipping company's stock after selling 5,581 shares during the quarter. Kirby accounts for approximately 3.6% of Lathrop Investment Management Corp's portfolio, making the stock its 4th largest holding. Lathrop Investment Management Corp owned 0.27% of Kirby worth $19,196,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, COO Christian G. O'neil sold 15,041 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 7,746 shares of the company's stock, valued at $1,006,980. This represents a 66.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,596 shares of company stock worth $8,541,440 in the last three months. 1.50% of the stock is owned by insiders.

Kirby Stock Performance

Shares of NYSE KEX traded down $1.21 during trading on Friday, reaching $127.60. The stock had a trading volume of 321,920 shares, compared to its average volume of 454,804. The firm's 50 day moving average price is $123.54 and its two-hundred day moving average price is $120.27. Kirby Co. has a one year low of $72.11 and a one year high of $132.21. The stock has a market cap of $7.32 billion, a PE ratio of 24.83, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million for the quarter, compared to analysts' expectations of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. Kirby's revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. On average, research analysts forecast that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

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