Scott P. Miller Sells 6,705 Shares of Kirby Co. (NYSE:KEX) Stock

Kirby Co. (NYSE:KEX) VP Scott P. Miller sold 6,705 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $95.05, for a total value of $637,310.25. Following the completion of the transaction, the vice president now owns 1,000 shares in the company, valued at $95,050. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kirby Stock Performance

Kirby stock traded up $0.09 during midday trading on Thursday, reaching $95.12. 102,292 shares of the company’s stock were exchanged, compared to its average volume of 383,588. Kirby Co. has a 52 week low of $66.42 and a 52 week high of $95.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 1.61 and a beta of 1.20. The stock’s 50-day simple moving average is $85.75 and its 200 day simple moving average is $81.40.

Kirby (NYSE:KEX) 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 7.12%. The company had revenue of $799.18 million during the quarter, compared to the consensus estimate of $778.70 million. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Kirby Co. will post 4.94 earnings per share for the current fiscal year.

Institutional Trading of Kirby

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in shares of Kirby by 923.2% in the fourth quarter. Morgan Stanley now owns 4,248,727 shares of the shipping company’s stock worth $273,406,000 after purchasing an additional 3,833,471 shares during the last quarter. Park West Asset Management LLC bought a new position in shares of Kirby during the 4th quarter worth about $61,824,000. FIL Ltd lifted its position in Kirby by 435.3% in the 4th quarter. FIL Ltd now owns 818,694 shares of the shipping company’s stock valued at $64,251,000 after acquiring an additional 665,744 shares in the last quarter. Norges Bank bought a new position in Kirby in the 4th quarter valued at about $42,762,000. Finally, FMR LLC lifted its position in shares of Kirby by 30.9% during the 3rd 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 in the last quarter. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

KEX has been the topic of a number of recent research reports. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Monday. Stephens reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Kirby in a research note on Monday, February 5th.

Kirby Company 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.