Insider Selling: Kirby Co. (NYSE:KEX) VP Sells $119,652.84 in Stock

Kirby Co. (NYSE:KEXGet Free Report) VP Ronald A. Dragg sold 1,413 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $84.68, for a total transaction of $119,652.84. Following the transaction, the vice president now directly owns 10,651 shares in the company, valued at $901,926.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kirby Stock Up 0.6 %

Kirby stock opened at $85.02 on Friday. Kirby Co. has a 1-year low of $64.92 and a 1-year high of $87.52. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. The firm’s fifty day moving average price is $78.57 and its two-hundred day moving average price is $79.89. The company has a current ratio of 1.88, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34.

Kirby (NYSE:KEXGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.15%. The company had revenue of $799.18 million for the quarter, compared to analyst estimates of $778.70 million. During the same period last year, the firm earned $0.67 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts predict that Kirby Co. will post 4.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KEX. Morgan Stanley lifted its position in shares of Kirby by 923.2% during the fourth quarter. Morgan Stanley now owns 4,248,727 shares of the shipping company’s stock valued at $273,406,000 after purchasing an additional 3,833,471 shares in the last quarter. Norges Bank purchased a new stake in Kirby during the fourth quarter worth about $42,762,000. FMR LLC increased its holdings in Kirby by 30.9% during the third quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock worth $173,886,000 after buying an additional 495,541 shares during the last quarter. Jennison Associates LLC increased its holdings in Kirby by 31.6% during the second quarter. Jennison Associates LLC now owns 1,507,817 shares of the shipping company’s stock worth $116,027,000 after buying an additional 362,282 shares during the last quarter. Finally, Encompass Capital Advisors LLC increased its holdings in Kirby by 144.8% during the second quarter. Encompass Capital Advisors LLC now owns 507,526 shares of the shipping company’s stock worth $39,054,000 after buying an additional 300,187 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Stephens reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Kirby in a research note on Monday, February 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.33.

Get Our Latest Analysis on KEX

About Kirby

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Kirby (NYSE:KEX)

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