Wolverine Trading LLC lessened its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 81.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,405 shares of the shipping company's stock after selling 10,449 shares during the quarter. Wolverine Trading LLC's holdings in Kirby were worth $301,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in KEX. State Street Corp raised its stake in Kirby by 0.7% during the third quarter. State Street Corp now owns 1,667,520 shares of the shipping company's stock valued at $204,154,000 after purchasing an additional 12,337 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings 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 worth $106,246,000 after buying an additional 224,802 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of Kirby by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company's stock valued at $97,255,000 after buying an additional 43,685 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kirby by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock valued at $85,585,000 after acquiring an additional 152,146 shares during the last quarter. Finally, Select Equity Group L.P. purchased a new position in Kirby in the second quarter worth about $65,928,000. 96.15% of the stock is currently owned by institutional investors.
Kirby Stock Performance
KEX traded down $0.46 on Friday, reaching $117.45. 456,912 shares of the stock were exchanged, compared to its average volume of 455,009. The company's 50-day moving average price is $123.46 and its 200 day moving average price is $120.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The firm has a market capitalization of $6.74 billion, a PE ratio of 22.54, a PEG ratio of 0.70 and a beta of 1.18. Kirby Co. has a fifty-two week low of $74.88 and a fifty-two week high of $132.21.
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 the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm had revenue of $831.10 million during the quarter, compared to analysts' expectations of $824.42 million. During the same quarter last year, the company posted $1.05 earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Kirby Co. will post 5.45 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, StockNews.com upgraded Kirby from a "hold" rating to a "buy" rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $123.80.
Read Our Latest Report on Kirby
Insider Activity
In related news, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction that occurred on 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 owns 15,488 shares of the company's stock, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction 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 owns 63,399 shares in the company, valued at approximately $7,637,043.54. This 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 three months. 1.50% of the stock is currently owned by corporate insiders.
Kirby Company Profile
(
Free Report)
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.
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