King Luther Capital Management Corp Has $201.73 Million Position in Kirby Co. (NYSE:KEX)

King Luther Capital Management Corp trimmed its stake in shares of Kirby Co. (NYSE:KEX) by 16.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684,870 shares of the shipping company’s stock after selling 340,690 shares during the quarter. King Luther Capital Management Corp owned approximately 2.88% of Kirby worth $201,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kirby by 17.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,516 shares of the shipping company’s stock worth $354,000 after buying an additional 684 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Kirby by 18.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,247 shares of the shipping company’s stock worth $804,000 after purchasing an additional 1,610 shares in the last quarter. Brown Advisory Inc. raised its position in Kirby by 12.9% in the fourth quarter. Brown Advisory Inc. now owns 40,764 shares of the shipping company’s stock valued at $3,199,000 after purchasing an additional 4,661 shares during the last quarter. Norges Bank acquired a new stake in shares of Kirby during the fourth quarter valued at about $51,781,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Kirby by 71.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 10,782 shares of the shipping company’s stock worth $846,000 after purchasing an additional 4,492 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Up 3.2 %

Shares of NYSE KEX opened at $127.03 on Friday. The company’s 50 day moving average price is $118.45 and its 200-day moving average price is $111.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90. The company has a market capitalization of $7.43 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17.

Kirby (NYSE:KEX) last released its 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 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. Kirby’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts forecast that Kirby Co. will post 5.46 earnings per share for the current year.

Analyst Ratings Changes

KEX has been the topic of several recent research reports. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Bank of America lifted their price target on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $123.80.

Insider Activity

In other news, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The disclosure for this sale can be found here. Insiders have sold 46,159 shares of company stock valued at $5,571,178 in the last ninety days. 1.50% of the stock is 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.