Stanley Laman Group Ltd. Has $4.64 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Stanley Laman Group Ltd. decreased its stake in Kirby Co. (NYSE:KEX) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,885 shares of the shipping company’s stock after selling 3,386 shares during the period. Stanley Laman Group Ltd.’s holdings in Kirby were worth $4,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Kirby in the second quarter worth $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Kirby in the third quarter worth $30,000. ORG Partners LLC acquired a new stake in shares of Kirby in the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kirby in the second quarter worth $33,000. Finally, Blue Trust Inc. grew its stake in shares of Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Down 0.2 %

Shares of NYSE KEX opened at $121.77 on Wednesday. The stock has a market cap of $7.13 billion, a PE ratio of 28.79, a PEG ratio of 0.75 and a beta of 1.17. The business has a fifty day moving average of $120.29 and a two-hundred day moving average of $117.11. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $130.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70.

Kirby (NYSE:KEX) last issued its quarterly earnings data 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 company had revenue of $824.40 million during the quarter, compared to analysts’ expectations of $821.65 million. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. As a group, equities research analysts expect that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KEX has been the subject of several research reports. Bank of America raised their target price on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research report 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Insider Activity at Kirby

In related news, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the transaction, the vice president now directly owns 5,280 shares of the company’s stock, valued at $668,131.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. This trade represents a 0.00 % decrease in their ownership of the stock. 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 stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,012 shares of company stock valued at $5,571,267 over the last ninety days. 1.50% of the stock is owned by 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.