Christian O’neil Sells 11,287 Shares of Kirby (NYSE:KEX) Stock

Kirby Corporation (NYSE:KEX) COO Christian O’neil sold 11,287 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $132.34, for a total value of $1,493,721.58. Following the completion of the sale, the chief operating officer owned 11,287 shares of the company’s stock, valued at approximately $1,493,721.58. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kirby Stock Down 1.1%

Shares of KEX stock traded down $1.50 during trading hours on Wednesday, reaching $132.33. 140,281 shares of the company’s stock were exchanged, compared to its average volume of 761,852. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $134.69. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.10 billion, a PE ratio of 20.91, a PEG ratio of 1.19 and a beta of 0.83. The stock’s fifty day moving average price is $123.16 and its two-hundred day moving average price is $106.42.

Kirby (NYSE:KEX) last released its earnings results 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 company had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. Kirby’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. Research analysts predict that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Kirby

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of Kirby by 92.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company’s stock worth $287,803,000 after acquiring an additional 1,251,700 shares during the period. First Trust Advisors LP raised its holdings in Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock worth $248,640,000 after purchasing an additional 1,178,963 shares during the period. Alliancebernstein L.P. boosted its position in Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after purchasing an additional 959,209 shares in the last quarter. Norges Bank acquired a new stake in Kirby in the fourth quarter valued at approximately $81,355,000. Finally, Hood River Capital Management LLC acquired a new stake in Kirby in the second quarter valued at approximately $73,784,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

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.