Fruth Investment Management decreased its stake in shares of Kirby Co. (NYSE:KEX) by 0.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,033 shares of the shipping company’s stock after selling 200 shares during the period. Fruth Investment Management’s holdings in Kirby were worth $1,730,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in Kirby in the 4th quarter worth about $37,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Kirby in the 4th quarter worth about $102,000. Cutler Group LP raised its stake in Kirby by 50.3% in the 4th quarter. Cutler Group LP now owns 1,613 shares of the shipping company’s stock worth $108,000 after purchasing an additional 540 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in Kirby in the 4th quarter worth about $231,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Kirby in the 4th quarter worth about $234,000. 95.88% of the stock is owned by institutional investors and hedge funds.
In related news, VP Amy D. Husted sold 4,731 shares of Kirby stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $73.90, for a total transaction of $349,620.90. Following the sale, the vice president now directly owns 19,102 shares of the company’s stock, valued at approximately $1,411,637.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Grzebinski sold 8,052 shares of Kirby stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $75.24, for a total transaction of $605,832.48. The disclosure for this sale can be found here. Insiders have sold a total of 27,876 shares of company stock worth $2,081,911 over the last ninety days. 1.80% of the stock is currently owned by insiders.
Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 31st. The shipping company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. The company had revenue of $721.49 million during the quarter, compared to analysts’ expectations of $698.14 million. Kirby had a net margin of 2.64% and a return on equity of 5.43%. On average, research analysts predict that Kirby Co. will post 3.57 EPS for the current fiscal year.
Several brokerages have weighed in on KEX. Zacks Investment Research cut shares of Kirby from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Wells Fargo & Co set a $74.00 price objective on shares of Kirby and gave the stock a “hold” rating in a research note on Saturday, February 2nd. TheStreet cut shares of Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st. Finally, BTIG Research assumed coverage on shares of Kirby in a research report on Friday, January 25th. They issued a “neutral” rating and a $67.40 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Kirby currently has a consensus rating of “Hold” and a consensus target price of $87.28.
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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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