AMG National Trust Bank Sells 3,573 Shares of Kirby Co. (NYSE:KEX)

AMG National Trust Bank reduced its holdings in shares of Kirby Co. (NYSE:KEX) by 29.8% in the third quarter, Holdings Channel reports. The institutional investor owned 8,428 shares of the shipping company’s stock after selling 3,573 shares during the period. AMG National Trust Bank’s holdings in Kirby were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KEX. Select Equity Group L.P. purchased a new position in shares of Kirby during the 2nd quarter worth about $65,928,000. Encompass Capital Advisors LLC raised its position in shares of Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock worth $106,246,000 after purchasing an additional 224,802 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 194,410 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Kirby in the 3rd quarter worth approximately $22,106,000. Finally, F M Investments LLC acquired a new position in shares of Kirby in the second quarter worth $14,185,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of Kirby 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 in the company, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. This trade represents a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,596 shares of company stock valued at $7,515,760 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KEX has been the topic of several research reports. Bank of America raised their price objective on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Trading Up 0.5 %

NYSE:KEX opened at $128.30 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $132.04. The company’s 50 day moving average is $122.71 and its 200-day moving average is $120.01. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 0.76 and a beta of 1.17.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $824.42 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Kirby Co. will post 5.45 EPS for the current year.

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.