Kirby Co. (NYSE:KEX) Shares Purchased by Huntington National Bank

Huntington National Bank raised its position in Kirby Co. (NYSE:KEX) by 8.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,668 shares of the shipping company’s stock after purchasing an additional 130 shares during the period. Huntington National Bank’s holdings in Kirby were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KEX. Farther Finance Advisors LLC grew its stake in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 168 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Kirby during the 2nd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Kirby during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in Kirby in the 2nd quarter valued at approximately $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Kirby during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insiders Place Their Bets

In other Kirby news, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the sale, the chief operating officer now directly owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the transaction, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. This represents a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,596 shares of company stock valued at $7,515,760 over the last quarter. Company insiders own 1.50% of the company’s stock.

Kirby Price Performance

Shares of NYSE:KEX opened at $128.04 on Monday. The company has a market cap of $7.35 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.76 and a beta of 1.17. The business has a fifty day simple moving average of $122.45 and a 200-day simple moving average of $119.81. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $132.04. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating 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 company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. During the same quarter in the prior year, the company posted $1.05 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Kirby Co. will post 5.45 EPS for the current year.

Analyst Upgrades and Downgrades

KEX has been the topic of several recent research 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 report on Tuesday, July 23rd. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kirby has a consensus rating of “Moderate Buy” and an average price target of $123.80.

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.