Kirby Co. (NYSE:KEX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in Kirby Co. (NYSE:KEX) by 24.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 111,727 shares of the shipping company’s stock after selling 36,821 shares during the period. Bank of Montreal Can’s holdings in Kirby were worth $14,003,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in KEX. Select Equity Group L.P. acquired a new position in Kirby in the second quarter valued at $65,928,000. Encompass Capital Advisors LLC increased its stake in shares of Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after acquiring an additional 224,802 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after acquiring an additional 194,410 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in Kirby in the third quarter valued at approximately $22,106,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock worth $85,585,000 after purchasing an additional 152,146 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling at Kirby

In other Kirby news, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock valued at $8,541,440 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Up 0.1 %

Shares of Kirby stock opened at $126.51 on Friday. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $132.21. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $124.16 and a 200 day moving average price of $120.88.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts forecast that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

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.