Insider Selling: Kirby (NYSE:KEX) VP Sells 2,000 Shares of Stock

Kirby Corporation (NYSE:KEX) VP William Matthew Woodruff sold 2,000 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $121.88, for a total transaction of $243,760.00. Following the transaction, the vice president owned 687 shares in the company, valued at approximately $83,731.56. The trade was a 74.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kirby Stock Performance

Shares of KEX stock traded up $1.79 on Wednesday, hitting $122.03. The company’s stock had a trading volume of 479,984 shares, compared to its average volume of 888,232. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $132.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70. The stock’s 50 day moving average is $118.14 and its 200-day moving average is $103.75. The company has a market capitalization of $6.61 billion, a PE ratio of 19.28, a PEG ratio of 1.06 and a beta of 0.88.

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

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in Kirby by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after purchasing an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Kirby by 152.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock valued at $18,441,000 after buying an additional 110,320 shares during the period. KLP Kapitalforvaltning AS lifted its holdings in shares of Kirby by 72.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the shipping company’s stock valued at $646,000 after buying an additional 2,400 shares during the period. IFP Advisors Inc bought a new position in shares of Kirby during the 2nd quarter valued at $29,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Kirby in the 2nd quarter worth $208,000. 96.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore lifted their price objective on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. BTIG Research decreased 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. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 price target on shares of Kirby in a report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Kirby in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.