Kirby (NYSE:KEX) CFO Raj Kumar Sells 3,000 Shares of Stock

Kirby Corporation (NYSE:KEX) CFO Raj Kumar sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $132.70, for a total value of $398,100.00. Following the completion of the transaction, the chief financial officer directly owned 4,494 shares in the company, valued at $596,353.80. The trade was a 40.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kirby Stock Performance

Shares of NYSE KEX traded down $1.14 during midday trading on Thursday, hitting $132.38. 29,618 shares of the company’s stock traded hands, compared to its average volume of 751,644. The firm has a fifty day moving average of $123.62 and a 200 day moving average of $106.61. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $134.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 1.53. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83.

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

Analysts Set New Price Targets

A number of brokerages recently commented on KEX. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. 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. Zacks Research downgraded Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Finally, Citigroup increased their target price on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bell Investment Advisors Inc raised its position in shares of Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares during the last quarter. State of Wyoming boosted its position in shares of Kirby by 12.8% during the third 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. Fifth Third Bancorp grew its stake in Kirby by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 114 shares in the last quarter. Xponance Inc. grew its stake in Kirby by 1.8% during the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock valued at $568,000 after acquiring an additional 118 shares in the last quarter. Finally, Procyon Advisors LLC increased its holdings in Kirby by 4.6% in the 4th quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company’s stock valued at $301,000 after acquiring an additional 121 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Company 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.