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 business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $132.34, for a total value of $1,493,721.58. Following the sale, the chief operating officer owned 11,287 shares of the company’s stock, valued at $1,493,721.58. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Kirby Trading Down 2.4%

Shares of KEX opened at $130.30 on Friday. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $134.69. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average is $124.01 and its two-hundred day moving average is $106.78. The stock has a market cap of $6.99 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. The business 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%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Research analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. BTIG Research lowered their price objective on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Citigroup raised their target price on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Zacks Research lowered Kirby from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Finally, Wolfe Research restated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating and one has assigned 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.

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.