David Grzebinski Sells 34,152 Shares of Kirby (NYSE:KEX) Stock

Kirby Corporation (NYSE:KEX) CEO David Grzebinski sold 34,152 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total value of $4,441,467.60. Following the completion of the sale, the chief executive officer owned 98,241 shares in the company, valued at approximately $12,776,242.05. The trade was a 25.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kirby Stock Up 0.1%

Shares of KEX opened at $129.78 on Friday. The firm has a market capitalization of $6.96 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.16 and a beta of 0.88. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $132.41. 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 firm has a fifty day moving average price of $122.28 and a 200-day moving average price of $105.82.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. Equities research analysts expect that Kirby Corporation will post 6.57 earnings per share for the current year.

Institutional Trading of Kirby

Hedge funds and other institutional investors have recently made changes to their positions in the business. Maseco LLP purchased a new position in Kirby during the 4th quarter worth $27,000. First Horizon Corp purchased a new stake in Kirby in the third quarter valued at about $30,000. Rothschild Investment LLC boosted its holdings in Kirby by 2,600.0% in the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after acquiring an additional 260 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Kirby by 537.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock worth $34,000 after acquiring an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

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