GAMMA Investing LLC Lowers Stock Holdings in Kirby Co. (NYSE:KEX)

GAMMA Investing LLC reduced its position in Kirby Co. (NYSE:KEX) by 33.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 438 shares of the shipping company’s stock after selling 221 shares during the period. GAMMA Investing LLC’s holdings in Kirby were worth $46,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KEX. Choreo LLC purchased a new stake in Kirby in the 2nd quarter worth approximately $305,000. American Century Companies Inc. raised its holdings in shares of Kirby by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 25,067 shares of the shipping company’s stock valued at $3,001,000 after purchasing an additional 2,788 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Kirby during the 2nd quarter valued at $175,000. Envestnet Asset Management Inc. raised its holdings in shares of Kirby by 70.7% during 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 in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Kirby during the 2nd quarter valued at $1,233,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of KEX opened at $104.47 on Tuesday. The company has a market capitalization of $6.00 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 0.69 and a beta of 1.21. Kirby Co. has a one year low of $75.60 and a one year high of $132.21. 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’s fifty day moving average price is $117.08 and its 200 day moving average price is $118.92.

Kirby (NYSE:KEX) last announced its 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. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same quarter last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Kirby Co. will post 5.45 earnings per share for the current year.

Insider Transactions at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the transaction, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares in the company, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,354 shares of company stock worth $3,275,455. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.