Alliancebernstein L.P. reduced its position in Kirby Co. (NYSE:KEX - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,337,073 shares of the shipping company's stock after selling 8,498 shares during the period. Alliancebernstein L.P. owned approximately 2.33% of Kirby worth $141,462,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC grew its holdings in shares of Kirby by 68.6% during the third quarter. Cerity Partners LLC now owns 8,152 shares of the shipping company's stock valued at $998,000 after buying an additional 3,317 shares during the last quarter. Walleye Capital LLC boosted its stake in Kirby by 54.9% during the 3rd quarter. Walleye Capital LLC now owns 20,836 shares of the shipping company's stock valued at $2,551,000 after purchasing an additional 7,381 shares during the last quarter. Captrust Financial Advisors increased its holdings in Kirby by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 13,644 shares of the shipping company's stock worth $1,670,000 after purchasing an additional 597 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Kirby in the third quarter worth approximately $403,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Kirby by 31.7% in the third quarter. Benjamin Edwards Inc. now owns 7,833 shares of the shipping company's stock valued at $959,000 after purchasing an additional 1,887 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on KEX. Bank of America decreased their price target on Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a report on Friday, March 28th. Stifel Nicolaus dropped their price target on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th.
View Our Latest Analysis on KEX
Insider Buying and Selling at Kirby
In other news, VP Scott P. Miller sold 1,244 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the transaction, the vice president now owns 5,545 shares of the company's stock, valued at $596,697.45. This represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.
Kirby Stock Performance
Shares of Kirby stock traded down $3.70 during trading hours on Friday, hitting $89.20. 1,175,353 shares of the company's stock traded hands, compared to its average volume of 536,526. The company has a fifty day simple moving average of $102.83 and a 200-day simple moving average of $112.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 0.88 and a beta of 0.99. Kirby Co. has a 12-month low of $85.33 and a 12-month high of $132.21.
Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 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 research analysts anticipate that Kirby Co. will post 6.57 EPS for the current fiscal year.
Kirby Company Profile
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Free Report)
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.
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