Logan Capital Management Inc. Sells 198 Shares of Kirby Co. (NYSE:KEX)

Logan Capital Management Inc. trimmed its position in shares of Kirby Co. (NYSE:KEX) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,472 shares of the shipping company’s stock after selling 198 shares during the period. Logan Capital Management Inc.’s holdings in Kirby were worth $548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares during the period. International Assets Investment Management LLC purchased a new position in Kirby during the 2nd quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in Kirby in the 3rd quarter valued at $30,000. ORG Partners LLC purchased a new stake in Kirby in the second quarter worth $32,000. Finally, Blue Trust Inc. lifted its position in shares of Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Down 0.3 %

Shares of NYSE KEX opened at $117.51 on Friday. Kirby Co. has a twelve month low of $74.88 and a twelve month high of $132.21. The firm has a market cap of $6.75 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. The business has a fifty day simple moving average of $123.57 and a two-hundred day simple moving average of $120.91. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29.

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

Insider Activity

In other news, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. This represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,596 shares of company stock worth $8,541,440. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $123.80.

About Kirby

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.