Janney Montgomery Scott LLC Reduces Stock Position in Kirby Co. (NYSE:KEX)

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Janney Montgomery Scott LLC lowered its stake in Kirby Co. (NYSE:KEX) by 31.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,181 shares of the shipping company’s stock after selling 2,371 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Kirby were worth $426,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in Kirby by 103.1% in the second quarter. Advisory Services Network LLC now owns 325 shares of the shipping company’s stock worth $26,000 after purchasing an additional 165 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of Kirby by 27.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 626 shares of the shipping company’s stock worth $49,000 after acquiring an additional 134 shares during the last quarter. Quest Capital Management Inc. ADV purchased a new position in shares of Kirby during the 3rd quarter worth $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kirby by 32.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823 shares of the shipping company’s stock worth $65,000 after acquiring an additional 201 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of Kirby by 10.1% during the 2nd quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock worth $131,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 94.77% of the company’s stock.

Several brokerages have recently weighed in on KEX. TheStreet upgraded shares of Kirby from a “c+” rating to a “b-” rating in a research note on Wednesday, September 11th. ValuEngine cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Stephens upgraded shares of Kirby from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $93.00 to $96.00 in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Kirby has a consensus rating of “Hold” and a consensus price target of $81.13.

In other news, VP Ronald A. Dragg sold 690 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $82.79, for a total transaction of $57,125.10. Following the sale, the vice president now directly owns 11,076 shares in the company, valued at approximately $916,982.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy D. Husted sold 6,174 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $78.25, for a total transaction of $483,115.50. Following the sale, the vice president now owns 20,545 shares in the company, valued at $1,607,646.25. The disclosure for this sale can be found here. Insiders have sold a total of 50,636 shares of company stock worth $4,133,309 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Shares of Kirby stock opened at $82.90 on Friday. The company’s fifty day simple moving average is $81.31 and its 200-day simple moving average is $79.04. The stock has a market capitalization of $4.97 billion, a PE ratio of 28.99, a P/E/G ratio of 2.83 and a beta of 1.06. Kirby Co. has a 1-year low of $60.63 and a 1-year high of $86.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.06.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Friday, October 25th. The shipping company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The business had revenue of $666.80 million for the quarter, compared to analysts’ expectations of $724.17 million. Kirby had a net margin of 3.96% and a return on equity of 5.60%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 EPS. As a group, research analysts anticipate that Kirby Co. will post 2.92 EPS for the current year.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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