Kirby Sees Unusually High Options Volume (KEX)

Kirby Co. (NYSE:KEX) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 5,555 put options on the stock. This is an increase of 5,400% compared to the typical daily volume of 101 put options.

In other Kirby news, Director J H. Pyne sold 52,934 shares of Kirby stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $87.88, for a total transaction of $4,651,839.92. Following the transaction, the director now directly owns 225,233 shares of the company’s stock, valued at $19,793,476.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christian G. O’neil sold 1,500 shares of Kirby stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $86.75, for a total transaction of $130,125.00. The disclosure for this sale can be found here. Insiders sold 58,104 shares of company stock worth $5,099,875 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Kirby by 5.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 310,733 shares of the shipping company’s stock valued at $25,978,000 after purchasing an additional 14,810 shares during the period. Rothschild Asset Management Inc. raised its stake in shares of Kirby by 1.7% during the second quarter. Rothschild Asset Management Inc. now owns 180,263 shares of the shipping company’s stock valued at $15,070,000 after purchasing an additional 2,934 shares during the period. Millennium Management LLC purchased a new stake in shares of Kirby during the first quarter valued at approximately $1,502,000. Sei Investments Co. raised its stake in shares of Kirby by 102.5% during the second quarter. Sei Investments Co. now owns 67,493 shares of the shipping company’s stock valued at $5,643,000 after purchasing an additional 34,158 shares during the period. Finally, Aperio Group LLC raised its stake in shares of Kirby by 42.5% during the second quarter. Aperio Group LLC now owns 16,939 shares of the shipping company’s stock valued at $1,416,000 after purchasing an additional 5,051 shares during the period. Institutional investors own 91.22% of the company’s stock.

A number of research analysts have weighed in on KEX shares. Zacks Investment Research raised shares of Kirby from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Gabelli raised shares of Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Monday, July 30th. Finally, ValuEngine raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Kirby presently has an average rating of “Buy” and a consensus target price of $90.50.

Shares of KEX stock opened at $78.57 on Thursday. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 1.86. Kirby has a fifty-two week low of $61.80 and a fifty-two week high of $94.05.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, July 25th. The shipping company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. The firm had revenue of $802.70 million for the quarter, compared to analysts’ expectations of $765.43 million. Kirby had a net margin of 11.49% and a return on equity of 4.77%. Kirby’s revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, equities research analysts anticipate that Kirby will post 2.83 earnings per share for the current fiscal year.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

Further Reading: Stock Symbol

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