Kirby Co. (KEX) Stake Lessened by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC trimmed its holdings in Kirby Co. (NYSE:KEX) by 23.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,403 shares of the shipping company’s stock after selling 8,251 shares during the quarter. Kirby comprises about 0.5% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 24th biggest position. 12th Street Asset Management Company LLC’s holdings in Kirby were worth $2,172,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new position in shares of Kirby in the 2nd quarter valued at about $163,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kirby in the 1st quarter valued at about $193,000. Greenwood Capital Associates LLC acquired a new position in shares of Kirby in the 2nd quarter valued at about $206,000. Engineers Gate Manager LP acquired a new position in Kirby during the 3rd quarter worth approximately $206,000. Finally, CIBC Asset Management Inc acquired a new position in Kirby during the 2nd quarter worth approximately $210,000. 90.03% of the stock is currently owned by institutional investors.

KEX stock opened at $76.86 on Friday. Kirby Co. has a fifty-two week low of $61.80 and a fifty-two week high of $94.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.17 and a current ratio of 1.86. The company has a market cap of $4.54 billion, a P/E ratio of 37.49, a PEG ratio of 2.03 and a beta of 1.00.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, October 25th. The shipping company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. Kirby had a return on equity of 5.05% and a net margin of 11.30%. The business had revenue of $704.85 million for the quarter, compared to the consensus estimate of $780.20 million. On average, equities research analysts forecast that Kirby Co. will post 2.82 earnings per share for the current year.

KEX has been the topic of a number of research reports. Wells Fargo & Co dropped their price target on Kirby from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research raised Kirby from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. ValuEngine raised Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Gabelli raised Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $89.25.

In other Kirby news, Director J H. Pyne sold 52,934 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $87.88, for a total transaction of $4,651,839.92. Following the completion of the sale, the director now directly owns 225,233 shares of the company’s stock, valued at approximately $19,793,476.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dorman Lynn Strahan sold 3,170 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $86.88, for a total value of $275,409.60. Following the sale, the insider now directly owns 29,389 shares of the company’s stock, valued at $2,553,316.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,604 shares of company stock worth $5,057,375. 2.40% of the stock is owned by company insiders.

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About Kirby

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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