Kirby Co. (NYSE:KEX) Short Interest Update

Kirby Co. (NYSE:KEX) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 797,100 shares, a decrease of 9.7% from the October 31st total of 882,800 shares. Based on an average daily trading volume, of 438,600 shares, the short-interest ratio is presently 1.8 days. Approximately 1.4% of the company’s shares are sold short.

Kirby Stock Down 1.2 %

NYSE:KEX traded down $1.51 during mid-day trading on Tuesday, hitting $123.38. 557,882 shares of the company’s stock were exchanged, compared to its average volume of 456,035. Kirby has a one year low of $72.11 and a one year high of $132.21. The business has a fifty day moving average price of $124.14 and a 200 day moving average price of $121.02. The company has a market cap of $7.08 billion, a PE ratio of 23.68, a P/E/G ratio of 0.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Kirby

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. This represents a 29.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of Kirby 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 sale, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. The trade was a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,596 shares of company stock valued at $8,541,440 in the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Kirby

Several institutional investors have recently bought and sold shares of KEX. Select Equity Group L.P. bought a new position in shares of Kirby in the second quarter worth approximately $65,928,000. Encompass Capital Advisors LLC boosted its stake in Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after purchasing an additional 224,802 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Kirby by 68.7% in the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after purchasing an additional 194,410 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Kirby in the third quarter worth $22,106,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after purchasing an additional 152,146 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

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.