Pathstone Holdings LLC Buys 432 Shares of Kirby Co. (NYSE:KEX)

Pathstone Holdings LLC grew its stake in Kirby Co. (NYSE:KEX) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,554 shares of the shipping company’s stock after acquiring an additional 432 shares during the quarter. Pathstone Holdings LLC’s holdings in Kirby were worth $1,537,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in Kirby in the first quarter worth $45,000. Price T Rowe Associates Inc. MD lifted its holdings in Kirby by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,585 shares of the shipping company’s stock worth $2,916,000 after acquiring an additional 1,806 shares in the last quarter. Tidal Investments LLC acquired a new position in Kirby in the first quarter valued at about $755,000. Westwood Holdings Group Inc. bought a new stake in shares of Kirby in the first quarter worth about $238,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Kirby in the first quarter worth about $401,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Stock Performance

KEX opened at $126.36 on Friday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 0.77 and a beta of 1.17. The business’s 50-day moving average price is $124.12 and its two-hundred day moving average price is $120.75. Kirby Co. has a 1 year low of $72.11 and a 1 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.

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

Insider Transactions at Kirby

In related news, Director Richard Ross Stewart sold 8,000 shares of Kirby stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the sale, the director now owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,596 shares of company stock valued at $8,541,440 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

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.