Kirby Co. (NYSE:KEX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in Kirby Co. (NYSE:KEX) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,093 shares of the shipping company’s stock after selling 5,015 shares during the period. Federated Hermes Inc. owned 0.14% of Kirby worth $10,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in KEX. International Assets Investment Management LLC acquired a new stake in shares of Kirby in the 2nd quarter worth approximately $26,000. ORG Partners LLC acquired a new stake in Kirby during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in Kirby during the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 141 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Kirby by 56.1% during the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 143 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Stock Up 2.1 %

KEX stock opened at $122.85 on Wednesday. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90. The company’s 50 day simple moving average is $118.26 and its 200-day simple moving average is $111.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The firm has a market capitalization of $7.19 billion, a P/E ratio of 29.04, a P/E/G ratio of 0.71 and a beta of 1.17.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Kirby Co. will post 5.46 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Kirby

In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total value 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 SEC, which can be accessed through this link. In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction that occurred 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 directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,128 shares of company stock worth $3,841,296. 1.50% of the stock is currently owned by company insiders.

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.