Kirby Co. (NYSE:KEX) Shares Sold by Wolverine Trading LLC

Wolverine Trading LLC reduced its holdings in Kirby Co. (NYSE:KEX) by 81.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,405 shares of the shipping company’s stock after selling 10,449 shares during the quarter. Wolverine Trading LLC’s holdings in Kirby were worth $301,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. State Street Corp raised its position in shares of Kirby by 0.7% in the 3rd quarter. State Street Corp now owns 1,667,520 shares of the shipping company’s stock worth $204,154,000 after buying an additional 12,337 shares during the period. Quantinno Capital Management LP increased its position in Kirby by 51.2% during the 3rd quarter. Quantinno Capital Management LP now owns 8,790 shares of the shipping company’s stock worth $1,076,000 after purchasing an additional 2,977 shares in the last quarter. Redwood Investment Management LLC raised its holdings in Kirby by 4.1% in the third quarter. Redwood Investment Management LLC now owns 11,979 shares of the shipping company’s stock valued at $1,501,000 after buying an additional 474 shares during the period. Merewether Investment Management LP lifted its position in Kirby by 48.7% during the third quarter. Merewether Investment Management LP now owns 234,500 shares of the shipping company’s stock valued at $28,710,000 after buying an additional 76,800 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in Kirby during the third quarter valued at approximately $202,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Performance

Kirby stock opened at $117.45 on Friday. The firm has a market capitalization of $6.74 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. Kirby Co. has a one year low of $74.88 and a one year high of $132.21. The stock’s 50 day moving average price is $123.46 and its 200 day moving average price is $120.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. During the same period in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kirby Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Kirby presently has an average rating of “Buy” and an average price target of $123.80.

Insider Activity

In other news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. This represents a 29.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock worth $8,541,440 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

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.