Central Pacific Bank Trust Division Trims Stock Position in Kirby Co. (NYSE:KEX)

Central Pacific Bank Trust Division reduced its stake in Kirby Co. (NYSE:KEX) by 43.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,641 shares of the shipping company’s stock after selling 3,612 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Kirby were worth $568,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KEX. International Assets Investment Management LLC purchased a new position in Kirby in the 2nd quarter valued at $26,000. ORG Partners LLC purchased a new stake in shares of Kirby in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Kirby during the second quarter worth about $33,000. Blue Trust Inc. raised its holdings in Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Kirby in the second quarter valued at about $37,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America raised their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kirby presently has an average rating of “Moderate Buy” and an average target price of $123.80.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The disclosure for this sale can be found here. In the last three months, insiders sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Performance

Shares of KEX opened at $120.95 on Friday. The company has a 50-day simple moving average of $118.47 and a 200-day simple moving average of $114.21. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $7.08 billion, a PE ratio of 28.59, a P/E/G ratio of 0.77 and a beta of 1.17. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90.

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 analysts’ consensus estimates of $1.32 by $0.11. The business had revenue of $824.40 million during the quarter, compared to the consensus estimate of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Equities research analysts predict that Kirby Co. will post 5.46 earnings per share for the current fiscal 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.