Kirby Co. (NYSE:KEX) CEO David W. Grzebinski Sells 5,000 Shares of Stock

Kirby Co. (NYSE:KEX) CEO David W. Grzebinski sold 5,000 shares of Kirby stock in a transaction on Friday, September 1st. The shares were sold at an average price of $83.56, for a total transaction of $417,800.00. Following the transaction, the chief executive officer now owns 69,006 shares in the company, valued at approximately $5,766,141.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Kirby Stock Performance

Kirby stock opened at $82.63 on Wednesday. Kirby Co. has a 12-month low of $57.64 and a 12-month high of $84.46. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.01. The firm’s fifty day moving average price is $79.32 and its 200 day moving average price is $74.15.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.12. The firm had revenue of $777.20 million for the quarter, compared to the consensus estimate of $781.18 million. Kirby had a net margin of 5.81% and a return on equity of 5.82%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, research analysts forecast that Kirby Co. will post 3.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Kirby

Hedge funds and other institutional investors have recently modified their holdings of the stock. 1832 Asset Management L.P. increased its position in shares of Kirby by 87.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 404 shares of the shipping company’s stock worth $31,000 after purchasing an additional 188 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Kirby in the 4th quarter worth about $45,000. Point72 Hong Kong Ltd bought a new stake in shares of Kirby in the 1st quarter worth about $47,000. Quadrant Capital Group LLC increased its position in shares of Kirby by 293.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 646 shares of the shipping company’s stock worth $50,000 after purchasing an additional 482 shares during the last quarter. Finally, TCTC Holdings LLC bought a new stake in shares of Kirby in the 1st quarter worth about $65,000. Institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Kirby in a report on Thursday, August 17th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Kirby currently has a consensus rating of “Moderate Buy” and an average price target of $86.75.

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.