Insider Selling: Kirby (NYSE:KEX) VP Sells $1,508,893.11 in Stock

Kirby Corporation (NYSE:KEX) VP Amy Husted sold 11,667 shares of Kirby stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the transaction, the vice president directly owned 14,814 shares of the company’s stock, valued at approximately $1,915,894.62. This represents a 44.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kirby Stock Performance

Kirby stock opened at $130.13 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. The firm has a market capitalization of $6.98 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.18. The company’s 50-day moving average is $121.55 and its 200 day moving average is $105.42.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup upped their price target on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Zacks Research downgraded shares of Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Wolfe Research reaffirmed an “outperform” rating and set a $136.00 price target on shares of Kirby in a research note on Friday, January 30th. Evercore boosted their price target on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.40.

Hedge Funds Weigh In On Kirby

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Kirby by 30.4% during the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after buying an additional 114,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $18,441,000 after purchasing an additional 110,320 shares during the last quarter. Ethic Inc. lifted its stake in shares of Kirby by 3.1% during the 2nd quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock worth $372,000 after purchasing an additional 98 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in Kirby during the second quarter valued at about $215,000. Finally, Pullen Investment Management LLC grew its stake in Kirby by 0.6% in the second quarter. Pullen Investment Management LLC now owns 31,564 shares of the shipping company’s stock valued at $3,580,000 after purchasing an additional 186 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other 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.