Kirby Co. (NYSE:KEX) Shares Sold by Lathrop Investment Management Corp

Lathrop Investment Management Corp cut its stake in Kirby Co. (NYSE:KEX) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,795 shares of the shipping company’s stock after selling 5,581 shares during the quarter. Kirby accounts for about 3.6% of Lathrop Investment Management Corp’s portfolio, making the stock its 4th biggest position. Lathrop Investment Management Corp owned approximately 0.27% of Kirby worth $19,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Kirby by 201.8% during the 2nd quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock worth $1,941,000 after purchasing an additional 10,841 shares in the last quarter. Quest Partners LLC boosted its holdings in Kirby by 1,247.8% during the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock valued at $1,481,000 after acquiring an additional 11,455 shares during the period. Tidal Investments LLC purchased a new stake in shares of Kirby during the first quarter valued at approximately $755,000. First Hawaiian Bank purchased a new stake in Kirby during the 2nd quarter valued at $852,000. Finally, Samlyn Capital LLC increased its position in shares of Kirby by 7.8% in the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock valued at $38,284,000 after acquiring an additional 23,086 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $123.29, for a total value of $1,729,881.99. Following the sale, the chief operating officer now owns 12,746 shares in the company, valued at approximately $1,571,454.34. This trade represents a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,596 shares of company stock valued at $7,515,760. 1.50% of the stock is owned by company insiders.

Kirby Stock Up 0.1 %

Shares of Kirby stock opened at $129.39 on Friday. The stock has a market capitalization of $7.43 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a 50-day simple moving average of $123.28 and a two-hundred day simple moving average of $120.20. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $132.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.