Lathrop Investment Management Corp Decreases Stock Holdings in Kirby Co. (NYSE:KEX)

Lathrop Investment Management Corp lowered its stake in shares of Kirby Co. (NYSE:KEX) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 200,344 shares of the shipping company’s stock after selling 4,308 shares during the quarter. Kirby makes up 3.2% of Lathrop Investment Management Corp’s holdings, making the stock its 11th biggest position. Lathrop Investment Management Corp’s holdings in Kirby were worth $15,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of KEX. Turtle Creek Wealth Advisors LLC purchased a new stake in Kirby during the 4th quarter valued at $53,000. NBC Securities Inc. purchased a new stake in Kirby in the third quarter worth $59,000. AXQ Capital LP purchased a new stake in Kirby in the third quarter worth $224,000. Panagora Asset Management Inc. purchased a new position in shares of Kirby during the third quarter valued at $226,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in shares of Kirby during the third quarter valued at $239,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of NYSE:KEX traded down $0.16 during trading on Friday, hitting $112.00. The stock had a trading volume of 783,584 shares, compared to its average volume of 469,587. Kirby Co. has a 12-month low of $67.07 and a 12-month high of $114.35. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 1.88 and a beta of 1.21. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $93.25 and a two-hundred day simple moving average of $83.77.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.22. Kirby had a return on equity of 8.00% and a net margin of 8.01%. The firm had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $784.49 million. During the same period last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Kirby Co. will post 4.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KEX shares. Stephens reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Kirby in a research report on Monday, February 5th. BTIG Research raised their price target on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Stifel Nicolaus raised their price target on Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Wolfe Research began coverage on Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kirby currently has an average rating of “Buy” and a consensus price target of $116.00.

Insider Activity at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the completion of the transaction, the vice president now directly owns 1,000 shares in the company, valued at $79,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO David W. Grzebinski sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.72, for a total value of $593,040.00. Following the completion of the sale, the chief executive officer now directly owns 84,399 shares in the company, valued at $7,150,283.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott P. Miller sold 1,828 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of the sale, the vice president now owns 1,000 shares of the company’s stock, valued at $79,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,418 shares of company stock worth $4,932,521. 1.50% of the stock is owned by corporate 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.