3,231 Shares in Kirby Co. (NYSE:KEX) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC purchased a new position in shares of Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,231 shares of the shipping company's stock, valued at approximately $342,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Kirby during the 4th quarter valued at about $74,293,000. Franklin Resources Inc. lifted its stake in Kirby by 848.5% during the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock worth $41,648,000 after purchasing an additional 352,144 shares during the period. Artemis Investment Management LLP boosted its holdings in Kirby by 112.0% during the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock valued at $40,504,000 after purchasing an additional 202,272 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kirby in the 4th quarter valued at approximately $18,749,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of Kirby in the 4th quarter worth approximately $16,390,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus decreased their price target on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Bank of America reduced their target price on shares of Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th.

Remove Ads

Insider Activity

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

Kirby Price Performance

Kirby stock traded up $3.37 on Friday, reaching $96.59. The company's stock had a trading volume of 697,365 shares, compared to its average volume of 542,615. The business's fifty day moving average price is $100.66 and its 200 day moving average price is $111.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 0.88 and a beta of 0.99. Kirby Co. has a twelve month low of $83.94 and a twelve month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Equities analysts expect that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

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.