Kirby Corporation $KEX Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in shares of Kirby Corporation (NYSE:KEX) by 59.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,670 shares of the shipping company’s stock after selling 9,943 shares during the period. AlphaQuest LLC’s holdings in Kirby were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KEX. IFP Advisors Inc acquired a new position in Kirby during the second quarter worth $29,000. Bell Investment Advisors Inc increased its position in shares of Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares in the last quarter. First Horizon Corp acquired a new position in shares of Kirby during the 3rd quarter worth $30,000. True Wealth Design LLC boosted its position in shares of Kirby by 466.7% in the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock worth $42,000 after buying an additional 308 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Kirby by 38.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 125 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 Kirby news, VP Amy D. Husted sold 10,413 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the sale, the vice president directly owned 11,760 shares in the company, valued at $1,263,259.20. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kurt A. Niemietz sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $114.12, for a total value of $171,180.00. Following the completion of the transaction, the vice president owned 958 shares in the company, valued at approximately $109,326.96. This trade represents a 61.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 57,147 shares of company stock worth $6,204,544. 0.90% of the stock is currently owned by company insiders.

Kirby Trading Up 0.8%

Shares of KEX stock opened at $121.62 on Thursday. The firm’s 50-day simple moving average is $117.57 and its 200-day simple moving average is $103.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.18. The firm has a market cap of $6.59 billion, a P/E ratio of 19.21, a PEG ratio of 1.06 and a beta of 0.88.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The firm had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. During the same quarter in the prior year, the business posted $1.29 earnings per share. Kirby’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KEX. BTIG Research reduced their price target on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Evercore ISI increased their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Citigroup boosted their price target on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Wolfe Research restated an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.40.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.