Redwood Investment Management LLC Buys 474 Shares of Kirby Co. (NYSE:KEX)

Redwood Investment Management LLC lifted its stake in Kirby Co. (NYSE:KEX) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,979 shares of the shipping company’s stock after buying an additional 474 shares during the period. Redwood Investment Management LLC’s holdings in Kirby were worth $1,501,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. International Assets Investment Management LLC bought a new position in Kirby in the second quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in Kirby in the third quarter valued at approximately $30,000. ORG Partners LLC bought a new position in Kirby in the second quarter valued at approximately $32,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Kirby during the second quarter worth $33,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 15,041 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the completion of the sale, the chief operating officer now directly owns 7,746 shares in the company, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $294,444.90. Following the completion of the transaction, the vice president now directly owns 7,683 shares in the company, valued at approximately $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock worth $8,541,440 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

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

Kirby Stock Down 0.7 %

Shares of NYSE KEX opened at $120.12 on Friday. The firm has a market cap of $6.89 billion, a PE ratio of 23.06, a P/E/G ratio of 0.73 and a beta of 1.18. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.21. The company’s fifty day simple moving average is $124.03 and its 200 day simple moving average is $121.02. 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 (NYSE:KEX) last announced its 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. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 earnings per share. As a group, sell-side analysts forecast that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Kirby 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.