Kirby Co. (NYSE:KEX) VP Ronald A. Dragg Sells 2,313 Shares

Kirby Co. (NYSE:KEX) VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the transaction, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Kirby Price Performance

Kirby stock traded up $0.97 during midday trading on Friday, hitting $126.75. 22,810 shares of the company’s stock were exchanged, compared to its average volume of 456,870. The company has a market cap of $7.34 billion, a P/E ratio of 24.14, a PEG ratio of 0.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. The stock has a 50-day moving average price of $121.01 and a two-hundred day moving average price of $118.77. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. Kirby’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts forecast that Kirby Co. will post 5.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. bought a new stake in Kirby during the second quarter worth about $65,928,000. Lord Abbett & CO. LLC purchased a new stake in Kirby in the first quarter worth approximately $22,877,000. Encompass Capital Advisors LLC grew its position in Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after acquiring an additional 224,802 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Kirby by 68.7% during the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after acquiring an additional 194,410 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Kirby in the 3rd quarter worth approximately $22,106,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KEX. Bank of America increased their price target on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

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.