Vaughan Nelson Investment Management L.P. Sells 94,055 Shares of Kirby Co. (NYSE:KEX)

Vaughan Nelson Investment Management L.P. decreased its position in Kirby Co. (NYSE:KEX) by 14.4% in the third quarter, Holdings Channel reports. The firm owned 557,547 shares of the shipping company’s stock after selling 94,055 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Kirby were worth $68,260,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of Kirby by 10.5% during the first quarter. Janus Henderson Group PLC now owns 955,587 shares of the shipping company’s stock valued at $91,086,000 after buying an additional 90,586 shares during the period. Encompass Capital Advisors LLC increased its holdings in Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after buying an additional 224,802 shares during the period. Hood River Capital Management LLC increased its holdings in Kirby by 5.7% during the second quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company’s stock valued at $97,255,000 after buying an additional 43,685 shares during the period. Select Equity Group L.P. bought a new position in Kirby in the second quarter worth approximately $65,928,000. Finally, Millennium Management LLC boosted its position in Kirby by 13.1% during the 2nd quarter. Millennium Management LLC now owns 533,326 shares of the shipping company’s stock valued at $63,855,000 after acquiring an additional 61,573 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The shares were 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 in the company, valued at approximately $668,131.20. This represents a 35.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction on 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 transaction, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. This represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,596 shares of company stock valued at $7,515,760. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Performance

NYSE KEX opened at $128.04 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $132.04. The stock has a 50-day moving average of $122.45 and a 200 day moving average of $119.73. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.76 and a beta of 1.17.

Kirby (NYSE:KEX) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Sell-side analysts anticipate that Kirby Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KEX shares. Bank of America increased their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

About Kirby

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.