345 Shares in Kirby Co. (NYSE:KEX) Purchased by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in Kirby Co. (NYSE:KEX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 345 shares of the shipping company’s stock, valued at approximately $42,000.

Several other large investors have also modified their holdings of the business. Encompass Capital Advisors LLC boosted its position in shares of Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after buying an additional 224,802 shares during the period. Hood River Capital Management LLC boosted its position in shares of Kirby by 5.7% during the second quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company’s stock valued at $97,255,000 after buying an additional 43,685 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after buying an additional 152,146 shares during the period. Select Equity Group L.P. purchased a new position in shares of Kirby during the second quarter valued at approximately $65,928,000. Finally, Millennium Management LLC boosted its position in shares of Kirby by 13.1% during the second quarter. Millennium Management LLC now owns 533,326 shares of the shipping company’s stock valued at $63,855,000 after buying an additional 61,573 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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, Kirby currently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Kirby Stock Performance

Shares of NYSE:KEX opened at $126.51 on Friday. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $124.16 and a 200 day moving average of $120.84.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. Kirby’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, sell-side analysts predict that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction of $294,444.90. Following the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,596 shares of company stock valued at $8,541,440. Corporate insiders own 1.50% 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.