Kirby Co. (NYSE:KEX) Director Sells $1,025,680.00 in Stock

Kirby Co. (NYSE:KEX) Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were 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 in the company, valued at $1,985,716.48. This represents a 34.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Kirby Stock Performance

NYSE KEX traded down $1.18 on Friday, reaching $127.63. The stock had a trading volume of 256,385 shares, compared to its average volume of 454,534. The stock has a market cap of $7.33 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.21. The business’s 50-day moving average price is $123.54 and its 200 day moving average price is $120.27. 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 (NYSE:KEX) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating 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 the consensus estimate of $824.42 million. During the same quarter in the prior year, the firm earned $1.05 EPS. Kirby’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Kirby Co. will post 5.45 earnings per share for the current year.

Hedge Funds Weigh In On Kirby

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co lifted its position in Kirby by 0.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock worth $2,792,000 after acquiring an additional 108 shares during the period. Westwood Holdings Group Inc. purchased a new position in Kirby during the 1st quarter worth $238,000. 1832 Asset Management L.P. raised its position in Kirby by 56.1% during the 1st quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock worth $38,000 after buying an additional 143 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Kirby in the 1st quarter worth $45,000. Finally, Hood River Capital Management LLC boosted its holdings in shares of Kirby by 7.1% in the first quarter. Hood River Capital Management LLC now owns 768,598 shares of the shipping company’s stock valued at $73,263,000 after acquiring an additional 50,863 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

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.