S&T Bank PA lowered its holdings in Kirby Co. (NYSE:KEX) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,685 shares of the shipping company’s stock after selling 22,600 shares during the period. S&T Bank PA owned approximately 0.15% of Kirby worth $7,459,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Kirby by 87.1% in the third quarter. Baillie Gifford & Co. now owns 5,700,947 shares of the shipping company’s stock valued at $468,902,000 after purchasing an additional 2,653,183 shares during the period. BlackRock Inc. grew its stake in Kirby by 2.0% during the third quarter. BlackRock Inc. now owns 5,063,560 shares of the shipping company’s stock valued at $416,479,000 after acquiring an additional 101,346 shares in the last quarter. Atlanta Capital Management Co. L L C grew its stake in Kirby by 1.7% during the third quarter. Atlanta Capital Management Co. L L C now owns 4,441,618 shares of the shipping company’s stock valued at $365,323,000 after acquiring an additional 74,902 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Kirby by 9.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,131,916 shares of the shipping company’s stock valued at $175,350,000 after acquiring an additional 185,738 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in Kirby by 2.6% during the second quarter. King Luther Capital Management Corp now owns 1,991,901 shares of the shipping company’s stock valued at $166,523,000 after acquiring an additional 50,353 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.
KEX stock traded down $0.52 during midday trading on Friday, reaching $75.57. The company had a trading volume of 2,811 shares, compared to its average volume of 360,655. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 1.06. Kirby Co. has a 1 year low of $62.45 and a 1 year high of $94.05. The stock has a market cap of $4.46 billion, a PE ratio of 36.90, a P/E/G ratio of 1.98 and a beta of 1.00.
Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, October 25th. The shipping company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. Kirby had a net margin of 11.30% and a return on equity of 5.05%. The business had revenue of $704.85 million during the quarter, compared to analysts’ expectations of $780.20 million. On average, research analysts expect that Kirby Co. will post 2.82 EPS for the current fiscal year.
In other Kirby news, VP Amy D. Husted sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $74.79, for a total value of $89,748.00. Following the completion of the transaction, the vice president now owns 15,246 shares of the company’s stock, valued at approximately $1,140,248.34. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is owned by insiders.
KEX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Kirby from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Wells Fargo & Co reduced their price objective on shares of Kirby from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, ValuEngine raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $89.25.
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Kirby Company Profile
Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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