Wellington Management Group LLP Sells 2,080 Shares of Kirby Co. (NYSE:KEX)

Wellington Management Group LLP lessened its stake in Kirby Co. (NYSE:KEX) by 0.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,734,392 shares of the shipping company’s stock after selling 2,080 shares during the quarter. Wellington Management Group LLP’s holdings in Kirby were worth $212,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEX. SG Americas Securities LLC grew its stake in Kirby by 201.8% in the 2nd quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock worth $1,941,000 after acquiring an additional 10,841 shares in the last quarter. Quest Partners LLC grew its stake in Kirby by 1,247.8% in the second quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock worth $1,481,000 after purchasing an additional 11,455 shares in the last quarter. Samlyn Capital LLC increased its holdings in Kirby by 7.8% during the 2nd quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock worth $38,284,000 after purchasing an additional 23,086 shares during the period. Creative Planning raised its position in Kirby by 2.2% during the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock valued at $818,000 after purchasing an additional 147 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of Kirby by 27.5% in the 3rd quarter. Atria Investments Inc now owns 35,353 shares of the shipping company’s stock worth $4,328,000 after buying an additional 7,629 shares during the period. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of NYSE:KEX opened at $119.01 on Monday. The firm has a 50 day moving average of $123.91 and a 200 day moving average of $121.01. 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 company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.18. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $132.21.

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

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research note 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 company. According to MarketBeat, Kirby presently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Insiders Place Their Bets

In other news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The trade was a 29.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christian G. O’neil sold 15,041 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares of the company’s stock, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,596 shares of company stock worth $8,541,440. 1.50% of the stock is owned by corporate insiders.

Kirby 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.