Kirby Co. (NYSE:KEX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of Kirby Co. (NYSE:KEX) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 268,000 shares of the shipping company’s stock after selling 14,100 shares during the quarter. Primecap Management Co. CA’s holdings in Kirby were worth $32,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Kirby by 201.8% in the 2nd quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock worth $1,941,000 after acquiring an additional 10,841 shares during the period. Quest Partners LLC boosted its position in Kirby by 1,247.8% during the second quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock worth $1,481,000 after purchasing an additional 11,455 shares in the last quarter. Tidal Investments LLC acquired a new position in Kirby in the 1st quarter valued at about $755,000. First Hawaiian Bank purchased a new position in Kirby in the 2nd quarter valued at about $852,000. Finally, Samlyn Capital LLC boosted its stake in shares of Kirby by 7.8% during the 2nd quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock worth $38,284,000 after purchasing an additional 23,086 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kirby news, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the sale, the chief operating officer now directly owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,596 shares of company stock valued at $7,515,760. Company insiders own 1.50% of the company’s stock.

Kirby Trading Up 0.1 %

NYSE KEX opened at $129.39 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The company has a market cap of $7.43 billion, a P/E ratio of 24.83, a P/E/G ratio of 0.76 and a beta of 1.17. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $132.21. The company has a 50-day moving average of $123.28 and a 200-day moving average of $120.20.

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

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.80.

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.