Diamond Hill Capital Management Inc. Sells 81,110 Shares of Kirby Co. (NYSE:KEX)

Diamond Hill Capital Management Inc. trimmed its holdings in shares of Kirby Co. (NYSE:KEX) by 53.8% in the second quarter, Holdings Channel.com reports. The firm owned 69,593 shares of the shipping company’s stock after selling 81,110 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Kirby were worth $8,332,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Kirby during the 2nd quarter worth approximately $26,000. ORG Partners LLC bought a new position in shares of Kirby during the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Kirby during the 2nd quarter worth approximately $33,000. Blue Trust Inc. grew its stake in shares of Kirby by 91.0% during the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of Kirby during the 2nd quarter worth approximately $38,000. 96.15% of the stock is owned by institutional investors.

Kirby Trading Up 2.3 %

Shares of Kirby stock opened at $119.03 on Monday. The business has a fifty day simple moving average of $118.18 and a two-hundred day simple moving average of $111.11. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $130.90. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 0.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The business had revenue of $824.40 million during the quarter, compared to the consensus estimate of $821.65 million. During the same quarter last year, the firm posted $0.95 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Kirby Co. will post 5.46 EPS for the current year.

Insider Buying and Selling at Kirby

In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the stock in a transaction on Monday, August 5th. The stock was 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 approximately $1,772,066.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total value of $360,930.00. Following the transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,627,533.69. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus increased their price objective on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Bank of America increased their price objective on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $123.80.

About Kirby

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.