Kirby Co. (NYSE:KEX) Stake Lessened by F M Investments LLC

F M Investments LLC cut its stake in Kirby Co. (NYSE:KEX) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,938 shares of the shipping company’s stock after selling 530 shares during the period. F M Investments LLC owned 0.20% of Kirby worth $14,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake 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. Americana Partners LLC lifted its holdings in Kirby by 2.1% during the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after buying an additional 100 shares during the last quarter. Stephens Inc. AR grew its position in shares of Kirby by 32.1% in the 3rd quarter. Stephens Inc. AR now owns 11,334 shares of the shipping company’s stock worth $1,388,000 after acquiring an additional 2,757 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Kirby by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 68,887 shares of the shipping company’s stock valued at $8,434,000 after acquiring an additional 1,106 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Kirby during the 3rd quarter valued at approximately $241,000. Institutional investors own 96.15% of the company’s stock.

Insiders Place Their Bets

In other news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at $668,131.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Kirby news, COO Christian G. O’neil sold 2,770 shares of Kirby stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now directly owns 16,079 shares in the company, valued at approximately $1,772,066.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares of the company’s stock, valued at $668,131.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is owned by insiders.

Kirby Price Performance

KEX traded down $0.48 during trading on Friday, reaching $114.28. The stock had a trading volume of 630,737 shares, compared to its average volume of 458,506. Kirby Co. has a 1-year low of $72.11 and a 1-year high of $130.90. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. The stock has a 50 day moving average of $120.75 and a two-hundred day moving average of $118.06. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.49% and a net margin of 9.37%. The firm had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. During the same period in the previous year, the company earned $1.05 earnings per share. Kirby’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kirby Co. will post 5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KEX has been the subject of several recent research reports. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.