BNP Paribas Financial Markets Decreases Stake in Kirby Co. (NYSE:KEX)

BNP Paribas Financial Markets trimmed its position in shares of Kirby Co. (NYSE:KEX) by 54.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,594 shares of the shipping company’s stock after selling 5,566 shares during the quarter. BNP Paribas Financial Markets’ holdings in Kirby were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC increased its stake in shares of Kirby by 0.7% in the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock worth $1,526,000 after purchasing an additional 89 shares in the last quarter. Americana Partners LLC grew its holdings in Kirby by 2.1% during the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock valued at $600,000 after purchasing an additional 100 shares during the period. Huntington National Bank increased its position in Kirby by 8.5% in the third quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock worth $204,000 after buying an additional 130 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Kirby by 3.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock worth $523,000 after buying an additional 133 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Kirby by 91.0% during 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 in the last quarter. 96.15% of the stock is owned by institutional investors.

Kirby Price Performance

NYSE:KEX opened at $117.51 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.75 billion, a P/E ratio of 22.54, a P/E/G ratio of 0.70 and a beta of 1.18. Kirby Co. has a 12 month low of $74.88 and a 12 month high of $132.21. The business’s 50-day moving average is $123.57 and its 200 day moving average is $120.91.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $123.80.

Insider Activity

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the 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 directly owns 63,399 shares in the company, valued at $7,637,043.54. This represents a 29.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 7,683 shares of the company’s stock, 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 ninety days, insiders sold 68,596 shares of company stock valued at $8,541,440. 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.