Kirby Co. (NYSE:KEX) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lowered its position in Kirby Co. (NYSE:KEX) by 47.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,302 shares of the shipping company’s stock after selling 2,057 shares during the period. Procyon Advisors LLC’s holdings in Kirby were worth $244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Kirby by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company’s stock valued at $17,418,000 after buying an additional 30,713 shares during the period. Samlyn Capital LLC grew its position in Kirby by 7.8% in the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock worth $38,284,000 after acquiring an additional 23,086 shares during the period. Creative Planning increased its stake in Kirby by 2.2% during the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after acquiring an additional 147 shares during the last quarter. Atria Investments Inc raised its position in Kirby by 27.5% in the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company’s stock valued at $4,328,000 after purchasing an additional 7,629 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Kirby by 70.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 74,875 shares of the shipping company’s stock valued at $8,965,000 after purchasing an additional 31,011 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

Insiders Place Their Bets

In related news, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares of the company’s stock, valued at $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the business’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 transaction of $1,025,680.00. Following the transaction, the director now owns 15,488 shares of the company’s stock, valued at $1,985,716.48. This trade represents a 34.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,354 shares of company stock worth $3,275,455 in the last quarter. 1.50% of the stock is owned by company insiders.

Kirby Stock Performance

NYSE KEX opened at $111.91 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The company has a market cap of $6.42 billion, a P/E ratio of 21.48, a P/E/G ratio of 0.52 and a beta of 1.21. The stock has a 50-day moving average of $115.90 and a two-hundred day moving average of $118.60. Kirby Co. has a 1-year low of $76.12 and a 1-year high of $132.21.

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

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.