Oppenheimer Asset Management Inc. Trims Stake in Kirby Co. (NYSE:KEX)

Oppenheimer Asset Management Inc. lowered its stake in shares of Kirby Co. (NYSE:KEXFree Report) by 9.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,268 shares of the shipping company’s stock after selling 1,572 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Kirby were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1832 Asset Management L.P. increased its position in shares of Kirby by 87.0% during the second quarter. 1832 Asset Management L.P. now owns 404 shares of the shipping company’s stock valued at $31,000 after buying an additional 188 shares during the period. Quadrant Capital Group LLC increased its position in shares of Kirby by 293.9% during the second quarter. Quadrant Capital Group LLC now owns 646 shares of the shipping company’s stock valued at $50,000 after buying an additional 482 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Kirby during the first quarter valued at about $47,000. Coppell Advisory Solutions Corp. purchased a new stake in Kirby in the fourth quarter worth about $45,000. Finally, NBC Securities Inc. purchased a new stake in Kirby in the third quarter worth about $59,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Kirby Price Performance

Shares of KEX opened at $84.31 on Thursday. The stock has a market cap of $4.98 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.88. Kirby Co. has a fifty-two week low of $64.92 and a fifty-two week high of $87.52. The firm’s 50-day simple moving average is $78.26 and its two-hundred day simple moving average is $79.78.

Kirby (NYSE:KEXGet Free Report) last issued its earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.01. The firm had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. Kirby had a net margin of 7.21% and a return on equity of 7.15%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Analysts anticipate that Kirby Co. will post 4.97 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $76.78, for a total value of $307,120.00. Following the transaction, the chief executive officer now owns 60,006 shares in the company, valued at $4,607,260.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO David W. Grzebinski sold 4,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $76.78, for a total transaction of $307,120.00. Following the transaction, the chief executive officer now owns 60,006 shares in the company, valued at $4,607,260.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christian G. O’neil sold 6,861 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $80.42, for a total transaction of $551,761.62. Following the transaction, the insider now owns 12,811 shares in the company, valued at approximately $1,030,260.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,565 shares of company stock worth $1,303,695. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens restated an “overweight” rating and issued a $105.00 price objective on shares of Kirby in a report on Monday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.33.

View Our Latest Research Report on Kirby

Kirby Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Kirby (NYSE:KEX)

Receive News & Ratings for Kirby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby and related companies with MarketBeat.com's FREE daily email newsletter.