Otter Creek Advisors LLC cut its holdings in Kirby Co. (NYSE:KEX) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,483 shares of the shipping company’s stock after selling 15,426 shares during the period. Kirby makes up approximately 1.3% of Otter Creek Advisors LLC’s portfolio, making the stock its 17th biggest position. Otter Creek Advisors LLC owned approximately 0.22% of Kirby worth $8,917,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Kirby by 79.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock worth $127,000 after acquiring an additional 857 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Kirby by 4,295.2% in the 4th quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock worth $182,000 after acquiring an additional 2,663 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Kirby in the 4th quarter worth about $207,000. Trust Co bought a new position in shares of Kirby in the 3rd quarter worth about $208,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Kirby in the 3rd quarter worth about $209,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on KEX shares. Bank of America lifted their price objective on Kirby from $66.00 to $69.00 and gave the stock an “underperform” rating in a research report on Thursday, February 1st. Wells Fargo raised Kirby from a “market perform” rating to an “outperform” rating and set a $83.00 price objective for the company in a research report on Monday, January 22nd. Stephens set a $89.00 price objective on Kirby and gave the stock a “hold” rating in a research report on Monday, February 5th. Zacks Investment Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 25th. Finally, Evercore ISI raised Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 price objective for the company in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $79.40.
Shares of Kirby Co. (KEX) opened at $76.50 on Friday. Kirby Co. has a 12-month low of $59.25 and a 12-month high of $80.90. The company has a market capitalization of $4,565.06, a PE ratio of 14.22, a P/E/G ratio of 2.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.34.
Kirby (NYSE:KEX) last issued its earnings results on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Kirby had a return on equity of 4.17% and a net margin of 14.14%. The business had revenue of $708.10 million during the quarter, compared to analyst estimates of $612.61 million. During the same period in the previous year, the company posted $0.60 EPS. The firm’s revenue was up 62.5% compared to the same quarter last year. equities analysts anticipate that Kirby Co. will post 2.8 earnings per share for the current fiscal year.
In related news, Director Monte J. Miller sold 2,336 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $77.10, for a total value of $180,105.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dorman Lynn Strahan sold 1,735 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $76.51, for a total value of $132,744.85. Following the completion of the sale, the insider now directly owns 28,484 shares of the company’s stock, valued at $2,179,310.84. The disclosure for this sale can be found here. Insiders sold a total of 11,430 shares of company stock valued at $854,762 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.
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Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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