Lathrop Investment Management Co. Lowers Holdings in Kirby Corporation $KEX

Lathrop Investment Management Co. decreased its stake in shares of Kirby Corporation (NYSE:KEX) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,669 shares of the shipping company’s stock after selling 8,217 shares during the period. Kirby accounts for 2.0% of Lathrop Investment Management Co.’s portfolio, making the stock its 26th largest position. Lathrop Investment Management Co. owned about 0.23% of Kirby worth $10,821,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Corp purchased a new stake in shares of Kirby during the third quarter worth about $30,000. Bell Investment Advisors Inc raised its stake in Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares in the last quarter. True Wealth Design LLC raised its position in shares of Kirby by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 308 shares in the last quarter. Frazier Financial Advisors LLC raised its holdings in shares of Kirby by 559.3% during the third quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock worth $47,000 after purchasing an additional 481 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in shares of Kirby by 38.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock worth $51,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Up 0.1%

KEX stock opened at $129.78 on Monday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.83. The company has a 50-day moving average of $122.28 and a two-hundred day moving average of $105.91. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $132.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.Kirby’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. As a group, equities research analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research cut their target price on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Citigroup raised their price target on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and issued a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. Finally, Zacks Research downgraded shares of Kirby from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Kirby has a consensus rating of “Moderate Buy” and an average price target of $129.40.

Insider Activity at Kirby

In related news, VP Scott P. Miller sold 3,960 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the sale, the vice president directly owned 3,565 shares in the company, valued at $430,224.20. This represents a 52.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Matthew Woodruff sold 2,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $121.88, for a total value of $243,760.00. Following the sale, the vice president directly owned 687 shares of the company’s stock, valued at $83,731.56. This represents a 74.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 68,353 shares of company stock valued at $8,579,025. Insiders own 0.90% of the company’s stock.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.