Point72 Asset Management L.P. Sells 40,974 Shares of Kirby Co. (NYSE:KEX)

Point72 Asset Management L.P. decreased its holdings in Kirby Co. (NYSE:KEX - Free Report) by 43.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,449 shares of the shipping company's stock after selling 40,974 shares during the quarter. Point72 Asset Management L.P. owned 0.09% of Kirby worth $6,421,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KEX. Farther Finance Advisors LLC lifted its position in shares of Kirby by 420.0% during 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 during the period. International Assets Investment Management LLC acquired a new stake in shares of Kirby during the 2nd quarter worth about $26,000. ORG Wealth Partners LLC bought a new position in Kirby during the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new stake in Kirby during the second quarter worth about $32,000. Finally, Blue Trust Inc. increased its holdings in shares of Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company's stock worth $35,000 after buying an additional 141 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Kirby Price Performance

Shares of KEX traded down $1.97 during mid-day trading on Monday, hitting $117.04. 288,189 shares of the company traded hands, compared to its average volume of 454,909. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 0.70 and a beta of 1.18. The business has a 50-day moving average of $123.91 and a 200 day moving average of $121.01. Kirby Co. has a one year low of $72.74 and a one year high of $132.21.

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

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.80.

Insider Buying and Selling

In other news, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now owns 7,683 shares of the company's stock, valued at $978,045.90. This represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Christian G. O'neil sold 15,041 shares of the firm's stock in a transaction 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 owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,596 shares of company stock worth $8,541,440 over the last three months. 1.40% of the stock is currently owned by company 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.