Mutual of America Capital Management LLC Has $4 Million Stock Position in Kirby Co. (NYSE:KEX)

Mutual of America Capital Management LLC reduced its stake in Kirby Co. (NYSE:KEX) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,381 shares of the shipping company’s stock after selling 1,833 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Kirby worth $3,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Kirby in the second quarter valued at approximately $26,000. ORG Partners LLC acquired a new position in Kirby in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new position in Kirby in the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after buying an additional 141 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in Kirby in the second quarter valued at approximately $38,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Price Performance

Shares of NYSE:KEX opened at $124.50 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $130.90. The stock’s 50 day moving average is $118.51 and its 200-day moving average is $112.35. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 0.71 and a beta of 1.17.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The company had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same period in the prior year, the firm earned $0.95 earnings per share. Kirby’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that Kirby Co. will post 5.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on KEX shares. Bank of America boosted their price target on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kirby currently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,012 shares of company stock worth $5,932,197. 1.50% of the stock is owned by corporate insiders.

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.