ORG Wealth Partners LLC Buys New Shares in Kirby Co. (NYSE:KEX)

ORG Wealth Partners LLC purchased a new position in shares of Kirby Co. (NYSE:KEX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 243 shares of the shipping company’s stock, valued at approximately $30,000.

A number of other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Kirby by 186.2% in the 3rd quarter. CWM LLC now owns 3,474 shares of the shipping company’s stock valued at $425,000 after purchasing an additional 2,260 shares during the period. Artemis Investment Management LLP bought a new stake in Kirby in the third quarter valued at approximately $22,106,000. GAMMA Investing LLC lifted its position in shares of Kirby by 75.7% in the third quarter. GAMMA Investing LLC now owns 659 shares of the shipping company’s stock valued at $81,000 after buying an additional 284 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Kirby during the 2nd quarter worth approximately $108,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Kirby during the 2nd quarter worth approximately $970,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

KEX has been the subject of several research reports. Bank of America raised their price target on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Stock Performance

KEX opened at $121.25 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The company has a market capitalization of $7.10 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The business has a fifty day simple moving average of $119.54 and a 200 day simple moving average of $116.19. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $130.90.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same period in the prior year, the company posted $0.95 earnings per share. Kirby’s revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Kirby Co. will post 5.46 EPS for the current year.

Insider Buying and Selling

In other Kirby news, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the transaction, the vice president now directly owns 5,280 shares of the company’s stock, valued at $668,131.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christian G. O’neil sold 14,031 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $123.29, for a total value of $1,729,881.99. Following the completion of the transaction, the chief operating officer now directly owns 12,746 shares of the company’s stock, valued at approximately $1,571,454.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,012 shares of company stock valued at $5,571,267 over the last 90 days. 1.50% of the stock is owned by corporate 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.