Fruth Investment Management lessened its position in shares of Kirby Corporation (NYSE:KEX – Free Report) by 25.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,388 shares of the shipping company’s stock after selling 3,929 shares during the period. Fruth Investment Management’s holdings in Kirby were worth $1,548,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC increased its stake in shares of Kirby by 2,600.0% during the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after purchasing an additional 260 shares during the period. Smartleaf Asset Management LLC boosted its stake in Kirby by 537.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 258 shares during the period. Parallel Advisors LLC boosted its stake in Kirby by 50.0% in the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 134 shares during the period. Root Financial Partners LLC grew its holdings in Kirby by 182.9% in the 1st quarter. Root Financial Partners LLC now owns 430 shares of the shipping company’s stock valued at $57,000 after buying an additional 278 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in Kirby by 18.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company’s stock valued at $69,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
Kirby Price Performance
Kirby stock opened at $132.33 on Wednesday. The firm has a market cap of $6.99 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12. The stock’s fifty day moving average price is $139.13 and its two-hundred day moving average price is $136.61. Kirby Corporation has a one year low of $79.51 and a one year high of $157.69.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on KEX. Bank of America lifted their target price on Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings cut shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. BTIG Research restated a “buy” rating and issued a $170.00 price target on shares of Kirby in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Evercore reiterated an “outperform” rating and issued a $158.00 price objective on shares of Kirby in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.20.
Check Out Our Latest Stock Analysis on Kirby
Insider Activity at Kirby
In other Kirby news, COO Christian G. O’neil sold 11,287 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.93, for a total transaction of $1,647,111.91. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William Matthew Woodruff sold 678 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $147.37, for a total transaction of $99,916.86. Following the completion of the transaction, the vice president directly owned 9 shares in the company, valued at approximately $1,326.33. This represents a 98.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,965 shares of company stock valued at $2,328,749 over the last quarter. 0.80% of the stock is owned by corporate insiders.
Kirby Company Profile
Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.
In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.
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