Kirby Corporation $KEX Shares Sold by Strs Ohio

Strs Ohio lessened its position in Kirby Corporation (NYSE:KEX) by 92.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,335 shares of the shipping company’s stock after selling 15,927 shares during the period. Strs Ohio’s holdings in Kirby were worth $111,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc purchased a new stake in shares of Kirby during the 2nd quarter valued at $29,000. Bell Investment Advisors Inc lifted its holdings in Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares during the last quarter. First Horizon Corp acquired a new position in Kirby during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in shares of Kirby by 466.7% during the second quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 308 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Kirby by 38.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock worth $51,000 after purchasing an additional 125 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Up 0.8%

Shares of KEX stock opened at $121.62 on Thursday. The stock has a market cap of $6.59 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.06 and a beta of 0.88. The stock has a fifty day moving average price of $117.57 and a 200 day moving average price of $103.73. Kirby Corporation has a one year low of $79.51 and a one year high of $132.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The company had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Analysts predict that Kirby Corporation will post 6.57 earnings per share for the current year.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 11,145 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $111.68, for a total value of $1,244,673.60. Following the completion of the transaction, the chief operating officer owned 14,835 shares of the company’s stock, valued at $1,656,772.80. The trade was a 42.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kurt A. Niemietz sold 1,500 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $114.12, for a total value of $171,180.00. Following the sale, the vice president directly owned 958 shares in the company, valued at $109,326.96. The trade was a 61.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,147 shares of company stock valued at $6,204,544. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore ISI boosted their price target on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Wolfe Research restated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Finally, Citigroup boosted their price target on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Kirby presently has an average rating of “Moderate Buy” and an average target price of $129.40.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.