Oliver Lagore Vanvalin Investment Group Invests $85,000 in Kirby Co. (NYSE:KEX)

Oliver Lagore Vanvalin Investment Group purchased a new stake in Kirby Co. (NYSE:KEX) in the second quarter, HoldingsChannel.com reports. The fund purchased 711 shares of the shipping company’s stock, valued at approximately $85,000.

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

Analysts Set New Price Targets

KEX has been the topic of a number of research analyst reports. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. 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 note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Kirby Stock Performance

Shares of Kirby stock opened at $125.33 on Friday. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $130.90. The company’s 50 day moving average price is $118.48 and its two-hundred day moving average price is $113.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The firm has a market capitalization of $7.33 billion, a P/E ratio of 29.63, 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 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.11. The company had revenue of $824.40 million for the quarter, compared to analysts’ expectations of $821.65 million. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. On average, equities analysts forecast that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other news, COO Christian G. O’neil sold 2,770 shares of Kirby stock in a transaction on Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares in the company, valued at $1,772,066.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David W. Grzebinski sold 26,358 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is currently owned by company insiders.

Kirby Company 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.