Kirby Co. (NYSE:KEX) Insider Sells $765,839.10 in Stock

Kirby Co. (NYSE:KEXGet Free Report) insider Christian G. O’neil sold 8,994 shares of Kirby stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total transaction of $765,839.10. Following the completion of the transaction, the insider now owns 16,079 shares of the company’s stock, valued at approximately $1,369,126.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kirby Trading Up 0.6 %

NYSE KEX opened at $85.02 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.88 and a debt-to-equity ratio of 0.34. Kirby Co. has a 52 week low of $64.92 and a 52 week high of $87.52. The stock has a market capitalization of $5.02 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. The firm has a 50 day moving average of $78.57 and a two-hundred day moving average of $79.89.

Kirby (NYSE:KEXGet Free Report) last issued its earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.15%. The business had revenue of $799.18 million during the quarter, compared to analysts’ expectations of $778.70 million. During the same quarter in the prior year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts expect that Kirby Co. will post 4.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Morgan Stanley raised its position in Kirby by 923.2% in the 4th 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 during the last quarter. Norges Bank purchased a new stake in Kirby in the 4th quarter valued at $42,762,000. FMR LLC raised its position in Kirby by 30.9% in the 3rd quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock valued at $173,886,000 after purchasing an additional 495,541 shares during the last quarter. Jennison Associates LLC raised its position in Kirby by 31.6% in the 2nd quarter. Jennison Associates LLC now owns 1,507,817 shares of the shipping company’s stock valued at $116,027,000 after purchasing an additional 362,282 shares during the last quarter. Finally, Encompass Capital Advisors LLC raised its position in Kirby by 144.8% in the 2nd quarter. Encompass Capital Advisors LLC now owns 507,526 shares of the shipping company’s stock valued at $39,054,000 after purchasing an additional 300,187 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

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About Kirby

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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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