Natixis Advisors LLC Sells 16,900 Shares of Kirby Co. (NYSE:KEX)

Natixis Advisors LLC cut its position in Kirby Co. (NYSE:KEX - Free Report) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,146 shares of the shipping company's stock after selling 16,900 shares during the quarter. Natixis Advisors LLC owned 0.20% of Kirby worth $14,220,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KEX. Janus Henderson Group PLC grew its stake in shares of Kirby by 10.5% in the first quarter. Janus Henderson Group PLC now owns 955,587 shares of the shipping company's stock worth $91,086,000 after purchasing an additional 90,586 shares during the last quarter. Encompass Capital Advisors LLC increased its stake in shares of Kirby by 33.9% in the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock valued at $106,246,000 after buying an additional 224,802 shares during the period. Hood River Capital Management LLC raised its position in shares of Kirby by 5.7% during the second quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company's stock worth $97,255,000 after acquiring an additional 43,685 shares during the last quarter. Select Equity Group L.P. bought a new stake in Kirby in the second quarter valued at approximately $65,928,000. Finally, Millennium Management LLC increased its position in Kirby by 13.1% during the 2nd quarter. Millennium Management LLC now owns 533,326 shares of the shipping company's stock valued at $63,855,000 after purchasing an additional 61,573 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Trading Up 0.3 %

Shares of KEX stock opened at $129.70 on Thursday. Kirby Co. has a 12-month low of $72.11 and a 12-month 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. The company has a 50 day moving average of $123.28 and a 200-day moving average of $120.20. The firm has a market cap of $7.44 billion, a P/E ratio of 24.82, a PEG ratio of 0.76 and a beta of 1.17.

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, 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 analysts' expectations of $824.42 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Kirby Co. will post 5.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of 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 given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.80.

Insider Activity at Kirby

In related news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction 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 sale, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. This trade represents a 35.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christian G. O'neil sold 15,041 shares of Kirby stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares of the company's stock, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,596 shares of company stock worth $7,515,760. 1.50% of the stock is 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.