Lathrop Investment Management Corp Has $15.72 Million Stake in Kirby Co. (NYSE:KEX)

Lathrop Investment Management Corp lowered its position in Kirby Co. (NYSE:KEX) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 200,344 shares of the shipping company’s stock after selling 4,308 shares during the period. Kirby accounts for approximately 3.2% of Lathrop Investment Management Corp’s portfolio, making the stock its 11th largest position. Lathrop Investment Management Corp owned 0.34% of Kirby worth $15,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEX. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Kirby during the 4th quarter valued at $53,000. NBC Securities Inc. acquired a new position in shares of Kirby during the 3rd quarter valued at $59,000. AXQ Capital LP acquired a new position in shares of Kirby during the 3rd quarter valued at $224,000. Panagora Asset Management Inc. bought a new stake in Kirby during the 3rd quarter valued at $226,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Kirby during the 3rd quarter valued at $239,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Down 0.1 %

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 company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. The company has a market capitalization of $6.55 billion, a PE ratio of 26.48, a PEG ratio of 1.88 and a beta of 1.21. The firm has a fifty day moving average of $93.25 and a two-hundred day moving average of $83.77.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.22. The company had revenue of $808.00 million during the quarter, compared to analyst estimates of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 8.00%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, equities research analysts forecast that Kirby Co. will post 4.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KEX has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Kirby in a research note on Monday, April 22nd. They set an “outperform” rating and a $126.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Stephens restated an “overweight” rating and set a $105.00 price target on shares of Kirby in a research note on Monday, February 5th. BTIG Research boosted their price target on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kirby currently has an average rating of “Buy” and an average price target of $116.00.

Insider Activity at Kirby

In related news, VP Scott P. Miller sold 487 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the transaction, the vice president now owns 1,000 shares in the company, valued at $99,780. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Kirby news, VP Scott P. Miller sold 487 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at $99,780. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David W. Grzebinski sold 7,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.72, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,418 shares of company stock worth $4,932,521. 1.50% of the stock is owned by company insiders.

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.