Tidal Investments LLC Sells 13,231 Shares of Kirby Co. (NYSE:KEX)

Tidal Investments LLC decreased its holdings in Kirby Co. (NYSE:KEX) by 57.4% in the third quarter, Holdings Channel reports. The fund owned 9,808 shares of the shipping company’s stock after selling 13,231 shares during the quarter. Tidal Investments LLC’s holdings in Kirby were worth $1,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its stake in shares of Kirby by 1,247.8% in the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock valued at $1,481,000 after purchasing an additional 11,455 shares during the last quarter. Samlyn Capital LLC raised 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 valued at $38,284,000 after buying an additional 23,086 shares during the period. Creative Planning lifted its position in Kirby by 2.2% in the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after buying an additional 147 shares during the last quarter. Atria Investments Inc boosted its stake in Kirby by 27.5% during the third 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. Finally, Envestnet Asset Management Inc. increased its position in Kirby by 70.7% during the second quarter. Envestnet Asset Management Inc. now owns 74,875 shares of the shipping company’s stock valued at $8,965,000 after acquiring an additional 31,011 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of the firm’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 owns 7,683 shares in the company, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 7,746 shares of the company’s stock, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,354 shares of company stock valued at $3,275,455 in the last three months. Company insiders own 1.50% of the company’s stock.

Kirby Price Performance

KEX opened at $105.63 on Thursday. The business has a fifty day moving average of $122.76 and a 200 day moving average of $120.61. The stock has a market cap of $6.06 billion, a P/E ratio of 20.27, a PEG ratio of 0.70 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby Co. has a 52-week low of $74.88 and a 52-week high of $132.21.

Kirby (NYSE:KEX) last issued its 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 firm had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. As a group, sell-side analysts anticipate that Kirby Co. will post 5.45 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.80.

About Kirby

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.