Crossmark Global Holdings Inc. Acquires 729 Shares of Kirby Co. (NYSE:KEX)

Crossmark Global Holdings Inc. increased its holdings in Kirby Co. (NYSE:KEX) by 19.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,539 shares of the shipping company’s stock after purchasing an additional 729 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Kirby were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KEX. Farther Finance Advisors LLC lifted its holdings in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares during the period. International Assets Investment Management LLC acquired a new position in Kirby in the second quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in Kirby in the third quarter valued at $30,000. ORG Partners LLC acquired a new position in Kirby in the second quarter valued at $32,000. Finally, Opal Wealth Advisors LLC acquired a new position in Kirby in the second quarter valued at $33,000. Institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. This represents a 29.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,596 shares of company stock worth $7,515,760 in the last quarter. Insiders own 1.50% of the company’s stock.

Kirby Price Performance

Shares of NYSE KEX opened at $128.04 on Friday. The firm’s 50-day moving average price is $122.45 and its 200-day moving average price is $119.73. Kirby Co. has a 1-year low of $72.11 and a 1-year high of $132.04. The firm has a market capitalization of $7.35 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating 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 analyst estimates of $824.42 million. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Kirby Co. will post 5.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on KEX shares. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. Bank of America upped their price objective on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

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.