Kirby Co. (NYSE:KEX) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its stake in Kirby Co. (NYSE:KEX) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,326 shares of the shipping company’s stock after selling 217 shares during the period. Greenwood Capital Associates LLC’s holdings in Kirby were worth $1,046,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Swiss National Bank grew its stake in shares of Kirby by 0.9% during the 3rd quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock valued at $2,729,000 after buying an additional 300 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Kirby by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 543,406 shares of the shipping company’s stock worth $44,994,000 after acquiring an additional 22,725 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Kirby in the 3rd quarter worth about $258,000. HighTower Advisors LLC raised its holdings in shares of Kirby by 6.8% in the 3rd quarter. HighTower Advisors LLC now owns 20,956 shares of the shipping company’s stock worth $1,730,000 after purchasing an additional 1,341 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Kirby by 45.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,700 shares of the shipping company’s stock worth $555,000 after purchasing an additional 2,100 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Down 3.0 %

Shares of KEX traded down $3.65 during mid-day trading on Friday, reaching $116.11. 436,525 shares of the stock traded hands, compared to its average volume of 436,334. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 0.77 and a beta of 1.17. The stock has a fifty day simple moving average of $112.12 and a 200 day simple moving average of $93.49. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $124.92.

Kirby (NYSE:KEX) last released its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.22. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Sell-side analysts expect that Kirby Co. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Kirby news, VP Kurt A. Niemietz sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $119.50, for a total value of $179,250.00. Following the transaction, the vice president now directly owns 926 shares of the company’s stock, valued at approximately $110,657. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Kirby news, VP Kurt A. Niemietz sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $119.50, for a total transaction of $179,250.00. Following the completion of the transaction, the vice president now directly owns 926 shares of the company’s stock, valued at approximately $110,657. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Raj Kumar sold 2,228 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $92.00, for a total transaction of $204,976.00. Following the completion of the sale, the chief financial officer now owns 1,719 shares in the company, valued at approximately $158,148. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,162 shares of company stock worth $4,752,143. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on KEX shares. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Wolfe Research began coverage on shares of Kirby in a report on Monday, April 22nd. They set an “outperform” rating and a $126.00 target price on the stock. BTIG Research increased their price target on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Stifel Nicolaus raised their price objective on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $119.50.

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.