Victory Capital Management Inc. Trims Holdings in Kirby Co. (NYSE:KEX)

Victory Capital Management Inc. trimmed its position in Kirby Co. (NYSE:KEX) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 469,947 shares of the shipping company’s stock after selling 35,645 shares during the quarter. Victory Capital Management Inc.’s holdings in Kirby were worth $36,881,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Treasurer of the State of North Carolina raised its stake in shares of Kirby by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,157 shares of the shipping company’s stock worth $2,166,000 after purchasing an additional 130 shares during the last quarter. Swiss National Bank raised its stake in shares of Kirby by 0.9% in the third quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock worth $2,729,000 after purchasing an additional 300 shares during the last quarter. Keybank National Association OH raised its stake in shares of Kirby by 3.8% in the third quarter. Keybank National Association OH now owns 8,565 shares of the shipping company’s stock worth $709,000 after purchasing an additional 313 shares during the last quarter. Keene & Associates Inc. raised its stake in shares of Kirby by 6.0% in the fourth quarter. Keene & Associates Inc. now owns 5,553 shares of the shipping company’s stock worth $436,000 after purchasing an additional 315 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its position in Kirby by 1.6% during the third quarter. Chase Investment Counsel Corp now owns 23,349 shares of the shipping company’s stock valued at $1,933,000 after acquiring an additional 361 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 18,000 shares of Kirby stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $85.44, for a total value of $1,537,920.00. Following the sale, the chief executive officer now directly owns 66,399 shares of the company’s stock, valued at $5,673,130.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP William Matthew Woodruff sold 3,750 shares of Kirby stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $109.25, for a total value of $409,687.50. Following the sale, the vice president now directly owns 941 shares of the company’s stock, valued at $102,804.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 18,000 shares of Kirby stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $85.44, for a total value of $1,537,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,399 shares in the company, valued at $5,673,130.56. The disclosure for this sale can be found here. Insiders have sold 43,022 shares of company stock valued at $3,911,911 over the last ninety days. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on KEX. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Stephens reiterated an “overweight” rating and set a $105.00 price target on shares of Kirby in a research report on Monday, February 5th. Wolfe Research began coverage on Kirby in a research report on Monday, April 22nd. They set an “outperform” rating and a $126.00 price target for the company. BTIG Research lifted their price target on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus lifted their price target on Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $116.00.

Kirby Stock Up 1.3 %

Shares of KEX opened at $112.00 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Kirby Co. has a 12 month low of $69.22 and a 12 month high of $114.35. The stock’s 50 day moving average is $96.06 and its two-hundred day moving average is $84.96. The firm has a market cap of $6.55 billion, a P/E ratio of 26.48, a PEG ratio of 1.77 and a beta of 1.14.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.97 by $0.22. Kirby had a return on equity of 8.00% and a net margin of 8.01%. The company had revenue of $808.00 million for the quarter, compared to analyst estimates of $784.49 million. During the same period last year, the company earned $0.68 earnings per share. Kirby’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts predict that Kirby Co. will post 5.2 earnings per share for the current fiscal year.

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.