Kirby Co. (NYSE:KEX) Holdings Boosted by M&T Bank Corp

M&T Bank Corp raised its position in shares of Kirby Co. (NYSE:KEX) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,787 shares of the shipping company’s stock after purchasing an additional 506 shares during the quarter. M&T Bank Corp’s holdings in Kirby were worth $1,810,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Kirby in the second quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Kirby during the third quarter worth approximately $30,000. ORG Partners LLC purchased a new position in Kirby during the second quarter valued at approximately $32,000. Finally, Blue Trust Inc. increased its stake in Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling

In other Kirby news, Director Richard Ross Stewart sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the sale, the director now owns 15,488 shares of the company’s stock, valued at $1,985,716.48. This represents a 34.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the transaction, the vice president now directly owns 7,683 shares in the company, valued at approximately $978,045.90. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,596 shares of company stock worth $8,541,440. Corporate insiders own 1.50% of the company’s stock.

Kirby Trading Down 0.4 %

Shares of NYSE KEX opened at $117.45 on Friday. The business has a 50 day simple moving average of $123.46 and a 200 day simple moving average of $120.87. Kirby Co. has a 52 week low of $74.88 and a 52 week high of $132.21. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 0.70 and a beta of 1.18. 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 earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.47 by $0.08. The company 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 company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, research analysts predict that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.