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

Greenwood Capital Associates LLC reduced its holdings in shares of Kirby Co. (NYSE:KEX) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,078 shares of the shipping company’s stock after selling 1,618 shares during the period. Greenwood Capital Associates LLC’s holdings in Kirby were worth $1,234,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in KEX. Asset Management One Co. Ltd. boosted its holdings in Kirby by 7.5% during the third quarter. Asset Management One Co. Ltd. now owns 23,855 shares of the shipping company’s stock worth $2,921,000 after buying an additional 1,672 shares in the last quarter. Ground Swell Capital LLC purchased a new position in Kirby during the third quarter worth about $217,000. Robeco Institutional Asset Management B.V. acquired a new position in Kirby during the third quarter worth approximately $871,000. Farther Finance Advisors LLC raised its position in shares of Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the period. Finally, Americana Partners LLC raised its holdings in shares of 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 during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on KEX. Bank of America raised their price objective on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Kirby has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Price Performance

Shares of KEX stock opened at $115.33 on Tuesday. The company has a market capitalization of $6.68 billion, a P/E ratio of 22.14, a P/E/G ratio of 0.68 and a beta of 1.17. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $130.90. The stock has a 50 day moving average of $120.71 and a two-hundred day moving average of $118.52.

Kirby (NYSE:KEX) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. As a group, equities analysts expect that Kirby Co. will post 5.43 EPS for the current year.

Insider Activity at Kirby

In related news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Christian G. O’neil sold 14,031 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total value of $1,729,881.99. Following the completion of the sale, the chief operating officer now owns 12,746 shares of the company’s stock, valued at approximately $1,571,454.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction that occurred on Thursday, September 19th. The stock was 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 approximately $668,131.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,242 shares of company stock valued at $5,265,985. Corporate insiders own 1.40% of the company’s stock.

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.