Empire Life Investments Inc. Takes Position in Kirby Co. (NYSE:KEX)

Empire Life Investments Inc. bought a new position in shares of Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 98,697 shares of the shipping company's stock, valued at approximately $10,442,000. Empire Life Investments Inc. owned 0.17% of Kirby as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of KEX. Farther Finance Advisors LLC grew its holdings in shares of Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. Empowered Funds LLC bought a new stake in Kirby in the fourth quarter valued at $25,000. Brooklyn Investment Group acquired a new position in shares of Kirby during the third quarter valued at $42,000. Capital Performance Advisors LLP acquired a new position in shares of Kirby during the third quarter valued at $52,000. Finally, R Squared Ltd bought a new position in shares of Kirby during the fourth quarter worth about $76,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Stifel Nicolaus reduced their price objective on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Kirby has a consensus rating of "Moderate Buy" and a consensus target price of $129.25.

Insider Activity at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the business's stock in a transaction dated 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 owns 5,545 shares in the company, valued at $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Kirby Price Performance

KEX stock traded down $1.83 during trading hours on Wednesday, hitting $108.10. 567,486 shares of the stock traded hands, compared to its average volume of 691,525. Kirby Co. has a one year low of $84.56 and a one year high of $132.21. The company has a market cap of $6.21 billion, a P/E ratio of 22.02, a P/E/G ratio of 0.90 and a beta of 1.19. The stock has a 50-day simple moving average of $107.93 and a 200 day simple moving average of $116.60. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results 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 return on equity of 9.78% and a net margin of 8.78%. Equities analysts forecast that Kirby Co. will post 6.57 earnings per share for the current year.

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.