Washington Capital Management Inc. Sells 3,900 Shares of Kirby Co. (NYSE:KEX)

Washington Capital Management Inc. trimmed its position in shares of Kirby Co. (NYSE:KEX) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,700 shares of the shipping company’s stock after selling 3,900 shares during the quarter. Kirby accounts for 1.7% of Washington Capital Management Inc.’s portfolio, making the stock its 16th largest position. Washington Capital Management Inc.’s holdings in Kirby were worth $1,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KEX. Bessemer Group Inc. boosted its position in shares of Kirby by 25.5% during the first quarter. Bessemer Group Inc. now owns 816 shares of the shipping company’s stock worth $50,000 after purchasing an additional 166 shares in the last quarter. Captrust Financial Advisors lifted its position in Kirby by 434.6% in the 1st quarter. Captrust Financial Advisors now owns 850 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 691 shares in the last quarter. US Bancorp DE lifted its position in Kirby by 26.9% in the 2nd quarter. US Bancorp DE now owns 2,092 shares of the shipping company’s stock valued at $127,000 after acquiring an additional 443 shares in the last quarter. World Asset Management Inc bought a new stake in Kirby in the 1st quarter valued at $206,000. Finally, Profund Advisors LLC bought a new stake in Kirby in the 1st quarter valued at $219,000. 93.60% of the stock is currently owned by institutional investors.

In other news, CEO David W. Grzebinski sold 1,000 shares of the business’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $56.74, for a total transaction of $56,740.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Separately, Zacks Investment Research raised shares of Kirby from a “sell” rating to a “hold” rating and set a $69.00 price objective on the stock in a research report on Tuesday, June 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.33.

Shares of KEX stock opened at $49.51 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.28 and a debt-to-equity ratio of 0.41. Kirby Co. has a 1 year low of $35.10 and a 1 year high of $70.60. The firm’s fifty day moving average price is $55.61 and its two-hundred day moving average price is $61.13. The firm has a market capitalization of $2.98 billion, a P/E ratio of 52.67, a PEG ratio of 5.44 and a beta of 1.46.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, July 29th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. The company had revenue of $559.62 million for the quarter, compared to analyst estimates of $540.30 million. Kirby had a net margin of 2.77% and a return on equity of 1.83%. As a group, equities research analysts forecast that Kirby Co. will post 0.79 EPS for the current fiscal year.

About Kirby

Kirby Corp. engages in the provision of diesel engines, reduction gears and ancillary products for marine and power generation applications. It operates through the following segments: Marine Transportation and Distribution & Services segment. The Marine Transportation segment provides marine transportation services, operates tank barges and towing vessels transporting bulk liquid products and transports petrochemicals, refined petroleum products, black oil products and agricultural chemicals by tank barge.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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