Retirement Systems of Alabama Sells 1,622 Shares of Kirby Co. (NYSE:KEX)

Retirement Systems of Alabama cut its stake in Kirby Co. (NYSE:KEX) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,335 shares of the shipping company’s stock after selling 1,622 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Kirby worth $8,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of KEX. Quest Partners LLC raised its position in Kirby by 1,247.8% in the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock valued at $1,481,000 after buying an additional 11,455 shares during the last quarter. Samlyn Capital LLC grew its stake in shares of Kirby by 7.8% in the 2nd quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock worth $38,284,000 after acquiring an additional 23,086 shares in the last quarter. Creative Planning raised its holdings in shares of Kirby by 2.2% in the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock valued at $818,000 after purchasing an additional 147 shares during the last quarter. Atria Investments Inc lifted its position in shares of Kirby by 27.5% during the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company’s stock valued at $4,328,000 after purchasing an additional 7,629 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Kirby by 70.7% during the second quarter. Envestnet Asset Management Inc. now owns 74,875 shares of the shipping company’s stock valued at $8,965,000 after purchasing an additional 31,011 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 15,041 shares of Kirby 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 completion of the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. This trade represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,207 shares of company stock worth $3,636,474 in the last quarter. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

Kirby Stock Down 2.6 %

Shares of NYSE:KEX opened at $110.78 on Wednesday. The company has a market capitalization of $6.36 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. Kirby Co. has a 1 year low of $74.88 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. The business has a fifty day moving average price of $123.27 and a two-hundred day moving average price of $120.81.

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

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.