David W. Grzebinski Sells 26,358 Shares of Kirby Co. (NYSE:KEX) Stock

Kirby Co. (NYSE:KEX) CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The transaction was disclosed in a filing with the SEC, which is available at this link.

Kirby Trading Up 2.1 %

Kirby stock traded up $2.53 during trading hours on Tuesday, reaching $122.85. The stock had a trading volume of 363,307 shares, compared to its average volume of 456,893. The stock has a market cap of $7.19 billion, a PE ratio of 28.93, a PEG ratio of 0.71 and a beta of 1.17. The company has a fifty day simple moving average of $118.18 and a 200-day simple moving average of $111.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The company had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same quarter in the previous year, the business earned $0.95 EPS. Kirby’s revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Kirby Co. will post 5.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KEX. Bank of America upped their target price on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus increased their target price on shares of Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Kirby has a consensus rating of “Buy” and an average price target of $123.80.

Institutional Trading of Kirby

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park West Asset Management LLC bought a new position in Kirby in the 4th quarter worth $61,824,000. Norges Bank bought a new stake in shares of Kirby during the 4th quarter valued at about $51,781,000. Select Equity Group L.P. purchased a new position in shares of Kirby during the second quarter valued at about $65,928,000. Lord Abbett & CO. LLC bought a new position in Kirby in the first quarter worth about $22,877,000. Finally, Encompass Capital Advisors LLC lifted its holdings in Kirby by 33.9% in the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock worth $106,246,000 after buying an additional 224,802 shares during the period. Hedge funds and other institutional investors own 96.15% 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.