Insider Selling: Kirby Co. (NYSE:KEX) CEO Sells $3,175,084.68 in Stock

Kirby Co. (NYSE:KEX) CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kirby Trading Up 3.2 %

Shares of KEX stock opened at $127.03 on Friday. The company’s fifty day simple moving average is $118.45 and its two-hundred day simple moving average is $111.77. 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 Co. has a 1 year low of $72.11 and a 1 year high of $130.90. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 30.03, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business had revenue of $824.40 million for the quarter, compared to analysts’ expectations of $821.65 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Kirby Co. will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

KEX has been the topic of several research analyst reports. Bank of America upped their price objective 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 upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $123.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Kirby by 0.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock worth $2,792,000 after purchasing an additional 108 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Kirby by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock worth $988,000 after purchasing an additional 122 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Kirby by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock worth $1,388,000 after purchasing an additional 124 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kirby by 3.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock worth $523,000 after purchasing an additional 133 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the period. Institutional investors own 96.15% of the company’s stock.

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.