Kirby (NYSE:KEX) VP Sells $662,338.00 in Stock
by Michael Walen · The Markets DailyKirby Corporation (NYSE:KEX – Get Free Report) VP Ronald Dragg sold 5,429 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total value of $662,338.00. Following the completion of the sale, the vice president directly owned 10,399 shares of the company’s stock, valued at $1,268,678. The trade was a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Kirby Stock Performance
KEX stock traded up $3.82 on Friday, hitting $122.57. The company’s stock had a trading volume of 365,948 shares, compared to its average volume of 914,745. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. The firm has a 50 day moving average of $117.68 and a two-hundred day moving average of $103.83. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $132.18.
Kirby (NYSE:KEX – Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The firm had revenue of $851.78 million for the quarter, compared to analysts’ expectations of $857.82 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts predict that Kirby Corporation will post 6.57 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Wolfe Research restated an “outperform” rating and issued a $136.00 price target on shares of Kirby in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Thursday, January 22nd. Evercore raised 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. Finally, BTIG Research lowered their price target on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.40.
Read Our Latest Analysis on Kirby
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Peregrine Capital Management LLC increased its position in Kirby by 18.4% during the third quarter. Peregrine Capital Management LLC now owns 131,000 shares of the shipping company’s stock worth $10,932,000 after buying an additional 20,399 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Kirby during the third quarter valued at $2,030,000. Luminus Management LLC increased its position in Kirby by 292.0% during the 3rd quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after purchasing an additional 87,120 shares in the last quarter. VELA Investment Management LLC increased its position in Kirby by 11.5% during the 3rd quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock worth $13,392,000 after purchasing an additional 16,615 shares in the last quarter. Finally, Bailard Inc. acquired a new position in Kirby in the 2nd quarter valued at about $692,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.
Kirby Company 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.