AGF Management Ltd. Trims Stake in Kirby Corporation $KEX

AGF Management Ltd. lessened its holdings in Kirby Corporation (NYSE:KEX) by 91.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,734 shares of the shipping company’s stock after selling 30,059 shares during the period. AGF Management Ltd.’s holdings in Kirby were worth $228,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State of Wyoming increased its stake in Kirby by 12.8% in the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after acquiring an additional 114 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Kirby during the third quarter worth about $53,000. EFG Asset Management North America Corp. increased its position in shares of Kirby by 25.1% in the third quarter. EFG Asset Management North America Corp. now owns 31,568 shares of the shipping company’s stock worth $2,633,000 after purchasing an additional 6,338 shares during the last quarter. Frazier Financial Advisors LLC increased its position in shares of Kirby by 559.3% in the third quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock worth $47,000 after purchasing an additional 481 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Kirby in the third quarter valued at approximately $9,125,000. Institutional investors own 96.15% of the company’s stock.

Insiders Place Their Bets

In related news, COO Christian G. O’neil sold 11,145 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the transaction, the chief operating officer owned 14,835 shares in the company, valued at $1,656,772.80. The trade was a 42.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy D. Husted sold 10,413 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the transaction, the vice president directly owned 11,760 shares of the company’s stock, valued at approximately $1,263,259.20. The trade was a 46.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,147 shares of company stock valued at $6,204,544 over the last quarter. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Wolfe Research reiterated an “outperform” rating and issued a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. BTIG Research reduced their target price 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 lifted their price target on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Evercore ISI increased their price objective on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.40.

Kirby Stock Down 2.2%

Shares of Kirby stock opened at $118.80 on Friday. The company’s 50 day moving average price is $117.68 and its 200-day moving average price is $103.83. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $132.18. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same quarter in the previous year, the business earned $1.29 EPS. Kirby’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Kirby 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.