Caprock Group LLC Invests $214,000 in Kirby Co. (NYSE:KEX)

Caprock Group LLC purchased a new stake in shares of Kirby Co. (NYSE:KEX) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,750 shares of the shipping company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KEX. Select Equity Group L.P. acquired a new position in Kirby during the 2nd quarter valued at about $65,928,000. Encompass Capital Advisors LLC increased its stake in shares of Kirby by 33.9% during the second 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 period. Victory Capital Management Inc. raised its holdings in Kirby by 68.7% during the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after purchasing an additional 194,410 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Kirby in the third quarter worth approximately $22,106,000. Finally, F M Investments LLC bought a new position in Kirby during the 2nd quarter valued at $14,185,000. 96.15% of the stock is currently owned by institutional investors.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction on 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 owns 7,746 shares in the company, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now directly owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,596 shares of company stock valued at $8,541,440 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

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

Kirby Price Performance

NYSE KEX opened at $128.30 on Monday. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.21. The business’s fifty day moving average is $123.73 and its two-hundred day moving average is $120.43. The stock has a market capitalization of $7.36 billion, a P/E ratio of 24.63, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating 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 return on equity of 9.43% and a net margin of 9.37%. Kirby’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. On average, research analysts forecast that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

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.