Magnetar Financial LLC Makes New $6.03 Million Investment in Kirby Co. (NYSE:KEX)

Magnetar Financial LLC bought a new position in shares of Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 56,962 shares of the shipping company's stock, valued at approximately $6,027,000. Magnetar Financial LLC owned 0.10% of Kirby at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC bought a new position in shares of Kirby during the 4th quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Kirby during the third quarter worth about $42,000. R Squared Ltd bought a new position in Kirby during the fourth quarter valued at about $76,000. Virtus Fund Advisers LLC increased its stake in Kirby by 38.8% during the third quarter. Virtus Fund Advisers LLC now owns 833 shares of the shipping company's stock valued at $102,000 after acquiring an additional 233 shares during the period. Finally, Signaturefd LLC raised its holdings in Kirby by 13.1% in the 4th quarter. Signaturefd LLC now owns 1,746 shares of the shipping company's stock valued at $185,000 after acquiring an additional 202 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of Kirby 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 completion of the transaction, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company's stock.

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Wall Street Analysts Forecast Growth

KEX has been the topic of a number of research reports. Stifel Nicolaus lowered their price objective on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $129.25.

Kirby Price Performance

Shares of Kirby stock traded up $3.14 during midday trading on Monday, hitting $104.47. 773,280 shares of the company were exchanged, compared to its average volume of 519,690. The firm has a 50 day simple moving average of $104.67 and a 200-day simple moving average of $114.04. Kirby Co. has a 52 week low of $80.00 and a 52 week high of $132.21. The firm has a market cap of $5.94 billion, a P/E ratio of 21.28, a PEG ratio of 0.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05.

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