State Street Corp Increases Stock Holdings in Kirby Co. (NYSE:KEX)

State Street Corp boosted its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,667,520 shares of the shipping company's stock after buying an additional 12,337 shares during the quarter. State Street Corp owned approximately 2.91% of Kirby worth $204,154,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Select Equity Group L.P. acquired a new position in Kirby in the 2nd quarter valued at $65,928,000. Encompass Capital Advisors LLC lifted its stake in shares of Kirby by 33.9% in the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock valued at $106,246,000 after purchasing an additional 224,802 shares during the last quarter. Victory Capital Management Inc. lifted its position in Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company's stock valued at $58,428,000 after buying an additional 194,410 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Kirby during the 3rd quarter worth approximately $22,106,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock worth $85,585,000 after buying an additional 152,146 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Richard Ross Stewart sold 8,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the completion of the sale, the director now directly owns 15,488 shares of the company's stock, valued at $1,985,716.48. This represents a 34.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock worth $8,541,440 over the last 90 days. 1.50% of the stock is owned by insiders.

Kirby Stock Down 0.3 %

Shares of NYSE:KEX traded down $0.40 during trading on Friday, hitting $117.51. The company's stock had a trading volume of 456,911 shares, compared to its average volume of 455,009. The company has a market capitalization of $6.75 billion, a PE ratio of 22.54, a P/E/G ratio of 0.70 and a beta of 1.18. 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 Co. has a fifty-two week low of $74.88 and a fifty-two week high of $132.21. The business has a 50 day moving average price of $123.57 and a two-hundred day moving average price of $120.91.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping 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 company had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same quarter in the prior year, the business earned $1.05 EPS. Kirby's revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Kirby Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Kirby from a "hold" rating to a "buy" rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Kirby presently has an average rating of "Buy" and a consensus target price of $123.80.

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.