Richard Ross Stewart Sells 8,000 Shares of Kirby Co. (NYSE:KEX) Stock

Kirby Co. (NYSE:KEX) Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the sale, the director now owns 15,488 shares in the company, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kirby Stock Performance

KEX stock opened at $128.30 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.21. The company has a market cap of $7.36 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The stock’s fifty day moving average price is $123.73 and its 200-day moving average price is $120.38.

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

Institutional Trading of Kirby

Several large investors have recently added to or reduced their stakes in KEX. CANADA LIFE ASSURANCE Co boosted its stake in shares of Kirby by 0.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock worth $2,792,000 after acquiring an additional 108 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Kirby during the first quarter valued at $238,000. 1832 Asset Management L.P. grew its holdings in Kirby by 56.1% during the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 143 shares during the period. Lazard Asset Management LLC purchased a new stake in Kirby in the first quarter worth about $45,000. Finally, Hood River Capital Management LLC raised its stake in shares of Kirby by 7.1% in the first quarter. Hood River Capital Management LLC now owns 768,598 shares of the shipping company’s stock worth $73,263,000 after buying an additional 50,863 shares during the period. 96.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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 assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.