Kirby Co. (NYSE:KEX) Position Reduced by XTX Topco Ltd

XTX Topco Ltd trimmed its position in Kirby Co. (NYSE:KEX) by 14.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,098 shares of the shipping company’s stock after selling 518 shares during the quarter. XTX Topco Ltd’s holdings in Kirby were worth $371,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in KEX. International Assets Investment Management LLC acquired a new stake in Kirby during the 2nd quarter worth about $26,000. ORG Partners LLC acquired a new stake in shares of Kirby during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Kirby during the second quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after buying an additional 141 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Kirby in the 2nd quarter worth approximately $37,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of NYSE KEX opened at $122.82 on Friday. The business’s 50-day simple moving average is $118.43 and its 200-day simple moving average is $113.00. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 0.77 and a beta of 1.17.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The company had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, equities research analysts expect that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KEX shares. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America lifted their price target on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. 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, Kirby presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Insiders Place Their Bets

In other news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at $668,131.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the transaction, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. The disclosure for this sale can be found here. Insiders sold a total of 46,012 shares of company stock valued at $5,571,267 in the last quarter. Insiders own 1.50% of the company’s stock.

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.