Fmr LLC Has $138.88 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Fmr LLC decreased its position in shares of Kirby Co. (NYSE:KEX) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,134,357 shares of the shipping company’s stock after selling 27,831 shares during the period. Fmr LLC owned 1.96% of Kirby worth $138,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Kirby by 96.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,816 shares of the shipping company’s stock valued at $1,079,000 after buying an additional 4,331 shares during the last quarter. Algert Global LLC grew its position in Kirby by 32.7% in the third quarter. Algert Global LLC now owns 92,527 shares of the shipping company’s stock worth $11,328,000 after acquiring an additional 22,778 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Kirby by 68.6% during the 3rd quarter. Cerity Partners LLC now owns 8,152 shares of the shipping company’s stock worth $998,000 after purchasing an additional 3,317 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kirby by 27.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after purchasing an additional 152,146 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its stake in shares of Kirby by 12.3% in the 3rd quarter. Premier Fund Managers Ltd now owns 11,850 shares of the shipping company’s stock valued at $1,485,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Price Performance

NYSE KEX opened at $123.38 on Wednesday. The company has a market cap of $7.08 billion, a P/E ratio of 23.68, a P/E/G ratio of 0.74 and a beta of 1.18. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.21. 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 simple moving average of $124.14 and a 200 day simple moving average of $121.02.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Kirby

In related news, COO Christian G. O’neil sold 15,041 shares of the business’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 transaction, the chief operating officer now directly owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the completion of the sale, the director now owns 15,488 shares of the company’s stock, valued at $1,985,716.48. This represents a 34.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,596 shares of company stock valued at $8,541,440 in the last 90 days. 1.40% of the stock is currently owned by insiders.

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.