AMG National Trust Bank Sells 3,573 Shares of Kirby Co. (NYSE:KEX)

AMG National Trust Bank trimmed its stake in shares of Kirby Co. (NYSE:KEX) by 29.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,428 shares of the shipping company’s stock after selling 3,573 shares during the period. AMG National Trust Bank’s holdings in Kirby were worth $1,032,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KEX. Farther Finance Advisors LLC lifted its stake in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after acquiring an additional 168 shares during the period. International Assets Investment Management LLC purchased a new position in Kirby in the 2nd quarter valued at $26,000. ORG Wealth Partners LLC purchased a new position in Kirby during the third quarter worth approximately $30,000. ORG Partners LLC purchased a new position in Kirby during the second quarter worth about $32,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Kirby in the 2nd quarter valued at $33,000. Institutional investors own 96.15% of the company’s stock.

Insider Activity at Kirby

In other Kirby news, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares of the company’s stock, valued at $1,006,980. This trade represents a 66.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,596 shares of company stock worth $7,515,760 over the last quarter. Company insiders own 1.40% of the company’s stock.

Kirby Stock Performance

Shares of Kirby stock opened at $128.30 on Wednesday. The stock’s 50-day moving average is $122.71 and its 200-day moving average is $120.01. Kirby Co. has a one year low of $72.11 and a one year high of $132.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. During the same period in the previous year, the business earned $1.05 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts predict that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.