Kirby Co. (NYSE:KEX) is Lathrop Investment Management Corp’s 4th Largest Position

Lathrop Investment Management Corp cut its position in Kirby Co. (NYSE:KEX) by 3.4% in the third quarter, HoldingsChannel.com reports. The firm owned 156,795 shares of the shipping company’s stock after selling 5,581 shares during the period. Kirby accounts for approximately 3.6% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 4th biggest holding. Lathrop Investment Management Corp’s holdings in Kirby were worth $19,196,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC grew its stake in Kirby by 0.7% during the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock worth $1,526,000 after buying an additional 89 shares during the last quarter. Americana Partners LLC boosted its stake in Kirby by 2.1% in the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after purchasing an additional 100 shares in the last quarter. CANADA LIFE ASSURANCE Co grew 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 purchasing an additional 108 shares during the last quarter. Huntington National Bank increased its stake in Kirby by 8.5% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after purchasing an additional 130 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Kirby by 3.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock worth $523,000 after buying an additional 133 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut 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 issued a buy rating to the company. Based on data from MarketBeat.com, Kirby currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Insider Activity

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. The trade was a 29.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Christian G. O’neil sold 15,041 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the sale, the chief operating officer now owns 7,746 shares in the company, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,596 shares of company stock worth $7,515,760 over the last three months. Insiders own 1.50% of the company’s stock.

Kirby Price Performance

NYSE:KEX opened at $129.39 on Friday. 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 52 week low of $72.11 and a 52 week high of $132.21. The stock’s 50-day moving average price is $123.28 and its 200-day moving average price is $120.20. The stock has a market capitalization of $7.43 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (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 business had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. During the same quarter last year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Kirby Co. will post 5.45 EPS for the current fiscal 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.