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 firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $121.88, for a total value of $243,760.00. Following the transaction, the vice president directly owned 687 shares in the company, valued at approximately $83,731.56. This represents a 74.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kirby Price Performance

Shares of NYSE:KEX traded up $1.79 during trading on Wednesday, hitting $122.03. 479,984 shares of the stock were exchanged, compared to its average volume of 888,232. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $132.18. The company has a market cap of $6.61 billion, a PE ratio of 19.28, a P/E/G ratio of 1.06 and a beta of 0.88. The company has a fifty day moving average price of $118.14 and a two-hundred day moving average price of $103.75. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 EPS. On average, analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on KEX. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a report on Friday, January 30th. Evercore lifted their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. BTIG Research dropped their price target on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.40.

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently bought and sold shares of the business. Ethic Inc. increased its holdings in shares of Kirby by 3.1% in the second quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock valued at $372,000 after purchasing an additional 98 shares in the last quarter. Bell Investment Advisors Inc raised its position in shares of Kirby by 67.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 114 shares during the period. State of Wyoming lifted its holdings in 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 in the last quarter. Fifth Third Bancorp lifted its stake in Kirby by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock valued at $81,000 after buying an additional 114 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Kirby by 1.8% in the 3rd quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock worth $568,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 96.15% of the company’s stock.

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.