Oppenheimer & Co. Inc. Sells 150 Shares of Kirby Co. (NYSE:KEX)

Oppenheimer & Co. Inc. trimmed its position in shares of Kirby Co. (NYSE:KEX) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the shipping company’s stock after selling 150 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kirby were worth $1,420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its holdings in Kirby by 15.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 79,141 shares of the shipping company’s stock valued at $9,689,000 after purchasing an additional 10,639 shares during the period. Victory Capital Management Inc. increased its stake in shares of Kirby by 68.7% during the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock valued at $58,428,000 after buying an additional 194,410 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of Kirby by 16.1% during the third quarter. Ashton Thomas Private Wealth LLC now owns 20,427 shares of the shipping company’s stock valued at $2,501,000 after acquiring an additional 2,834 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Kirby by 19.1% in the third quarter. Crossmark Global Holdings Inc. now owns 4,539 shares of the shipping company’s stock worth $556,000 after acquiring an additional 729 shares during the period. Finally, Atria Investments Inc boosted its holdings in Kirby by 27.5% in the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company’s stock valued at $4,328,000 after acquiring an additional 7,629 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

KEX has been the subject of several research reports. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. Bank of America raised their price objective on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Insider Transactions at Kirby

In related news, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the firm’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 sale, the vice president now owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,596 shares of company stock valued at $7,515,760. Insiders own 1.50% of the company’s stock.

Kirby Trading Down 1.5 %

Shares of NYSE KEX opened at $128.04 on Monday. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.04. 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 firm has a 50-day moving average of $122.45 and a 200 day moving average of $119.81. The stock has a market cap of $7.35 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The company had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same quarter in the prior year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kirby Co. will post 5.45 EPS for the current fiscal year.

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.