Kirby Co. (NYSE:KEX) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC cut its holdings in Kirby Co. (NYSE:KEX) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,005 shares of the shipping company’s stock after selling 597 shares during the period. Hourglass Capital LLC owned 0.07% of Kirby worth $4,910,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Kirby by 0.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock valued at $2,792,000 after purchasing an additional 108 shares during the last quarter. Fifth Third Bancorp boosted its stake in Kirby by 28.1% during the first quarter. Fifth Third Bancorp now owns 551 shares of the shipping company’s stock worth $53,000 after buying an additional 121 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Kirby by 1.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock valued at $988,000 after acquiring an additional 122 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Kirby by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after acquiring an additional 124 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 141 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on KEX. Bank of America lifted their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Stifel Nicolaus lifted their price objective on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kirby currently has an average rating of “Buy” and an average target price of $123.80.

Insider Transactions at Kirby

In related news, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at $7,627,533.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,627,533.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Kirby Price Performance

Kirby stock opened at $117.18 on Friday. The company’s 50 day moving average is $118.85 and its two-hundred day moving average is $109.51. The firm has a market cap of $6.86 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90.

Kirby (NYSE:KEX) last released its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The firm had revenue of $824.40 million during the quarter, compared to analyst estimates of $821.65 million. During the same period last year, the business posted $0.95 earnings per share. Kirby’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Kirby Co. will post 5.44 EPS for the current fiscal year.

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.