Insider Selling: Kirby (NYSE:KEX) CFO Sells $398,100.00 in Stock

Kirby Corporation (NYSE:KEX) CFO Raj Kumar sold 3,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $132.70, for a total value of $398,100.00. Following the sale, the chief financial officer owned 4,494 shares of the company’s stock, valued at approximately $596,353.80. This represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Kirby Stock Down 1.1%

Shares of KEX traded down $1.50 during midday trading on Wednesday, reaching $132.33. 140,281 shares of the stock were exchanged, compared to its average volume of 761,852. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $134.69. The firm has a 50 day simple moving average of $123.16 and a 200-day simple moving average of $106.42.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. The firm had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. Research analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KEX. Wolfe Research reiterated an “outperform” rating and set a $136.00 price target on shares of Kirby in a research note on Friday, January 30th. BTIG Research reduced their target price on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Citigroup boosted their price objective on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Zacks Research cut Kirby from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Kirby presently has an average rating of “Moderate Buy” and an average price target of $129.40.

Institutional Investors Weigh In On Kirby

Institutional investors and hedge funds have recently made changes to their positions in the company. Maseco LLP bought a new stake in Kirby during the 4th quarter worth about $27,000. First Horizon Corp acquired a new position in Kirby in the third quarter valued at approximately $30,000. Rothschild Investment LLC boosted its stake in Kirby by 2,600.0% in the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 260 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

About Kirby

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.