Amalgamated Bank Sells 5,687 Shares of Kirby Co. (NYSE:KEX)

Amalgamated Bank lessened its holdings in Kirby Co. (NYSE:KEX) by 17.1% during the third quarter, HoldingsChannel.com reports. The firm owned 27,632 shares of the shipping company’s stock after selling 5,687 shares during the period. Amalgamated Bank’s holdings in Kirby were worth $3,383,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Kirby during the second quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in Kirby during the third quarter worth $30,000. ORG Partners LLC acquired a new position in Kirby during the second quarter worth $32,000. Finally, Opal Wealth Advisors LLC acquired a new position in Kirby during the second quarter worth $33,000. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KEX. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kirby presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Price Performance

NYSE:KEX opened at $127.29 on Friday. Kirby Co. has a one year low of $72.11 and a one year high of $130.90. The company has a market cap of $7.37 billion, a P/E ratio of 24.43, a P/E/G ratio of 0.75 and a beta of 1.17. The firm’s fifty day moving average price is $121.16 and its two-hundred day moving average price is $119.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.49%. The firm had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Kirby Co. will post 5.44 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction of $294,444.90. Following the sale, the vice president now owns 7,683 shares in the company, valued at $978,045.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,555 shares of company stock valued at $5,560,430. 1.50% of the stock is owned by company insiders.

Kirby 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.