Kirby Co. (NYSE:KEX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in shares of Kirby Co. (NYSE:KEX) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 268,000 shares of the shipping company’s stock after selling 14,100 shares during the period. Primecap Management Co. CA owned 0.46% of Kirby worth $32,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Kirby by 201.8% in the second quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock valued at $1,941,000 after acquiring an additional 10,841 shares in the last quarter. Quest Partners LLC boosted its stake in Kirby by 1,247.8% during the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock worth $1,481,000 after purchasing an additional 11,455 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Kirby during the first quarter worth $755,000. First Hawaiian Bank acquired a new stake in shares of Kirby in the second quarter valued at about $852,000. Finally, Samlyn Capital LLC lifted its stake in shares of Kirby by 7.8% in the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock worth $38,284,000 after buying an additional 23,086 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Insider Buying and Selling at Kirby

In other news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. The trade was a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. The trade was a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,596 shares of company stock worth $7,515,760 over the last three months. Insiders own 1.50% of the company’s stock.

Kirby Price Performance

Shares of KEX stock opened at $129.39 on Friday. The firm’s 50-day moving average is $123.28 and its two-hundred day moving average is $120.20. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $132.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The company has a market capitalization of $7.43 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. Analysts predict that Kirby Co. will post 5.45 earnings per share for the current year.

Kirby Company Profile

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