Amalgamated Bank Sells 3,481 Shares of Kirby Co. (NYSE:KEX)

Amalgamated Bank decreased its position in shares of Kirby Co. (NYSE:KEX) by 9.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,319 shares of the shipping company’s stock after selling 3,481 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Kirby worth $3,989,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KEX. International Assets Investment Management LLC purchased a new position in shares of Kirby in the second quarter valued at about $26,000. ORG Partners LLC bought a new position in Kirby in the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Kirby during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. raised its position in shares of Kirby by 91.0% during the second 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 last quarter. Finally, Hantz Financial Services Inc. purchased a new position in shares of Kirby in the second quarter worth $38,000. Institutional investors own 96.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on KEX. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday. Bank of America raised their price objective on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Kirby has an average rating of “Moderate Buy” and an average target price of $123.80.

Kirby Price Performance

Kirby stock opened at $124.50 on Monday. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $118.51 and its 200 day moving average is $112.35. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 0.71 and a beta of 1.17.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. The firm had revenue of $824.40 million for the quarter, compared to analysts’ expectations of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Sell-side analysts forecast that Kirby Co. will post 5.46 EPS for the current fiscal year.

Insider Activity

In related news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Kirby news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. The disclosure for this sale can be found here. Insiders sold 49,012 shares of company stock valued at $5,932,197 in the last ninety days. 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.