Allspring Global Investments Holdings LLC Acquires 106,411 Shares of Kirby Co. (NYSE:KEX)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 92.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,460 shares of the shipping company's stock after purchasing an additional 106,411 shares during the period. Allspring Global Investments Holdings LLC owned 0.39% of Kirby worth $23,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC increased its holdings in Kirby by 0.7% during the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company's stock valued at $1,526,000 after purchasing an additional 89 shares in the last quarter. Americana Partners LLC increased its holdings in Kirby by 2.1% during the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company's stock valued at $600,000 after purchasing an additional 100 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Kirby by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company's stock valued at $895,000 after purchasing an additional 108 shares in the last quarter. Huntington National Bank increased its holdings in Kirby by 8.5% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the shipping company's stock valued at $204,000 after purchasing an additional 130 shares in the last quarter. Finally, Creative Planning increased its holdings in Kirby by 2.2% during the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company's stock valued at $818,000 after purchasing an additional 147 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the firm's 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 $596,697.45. This trade represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Kirby Trading Down 1.7 %

KEX traded down $1.83 during mid-day trading on Wednesday, reaching $108.10. The stock had a trading volume of 566,542 shares, compared to its average volume of 691,495. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The firm's fifty day simple moving average is $108.29 and its two-hundred day simple moving average is $116.66. Kirby Co. has a 52 week low of $84.56 and a 52 week high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last posted 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 9.78% and a net margin of 8.78%. On average, equities analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KEX. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Stifel Nicolaus decreased 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $129.25.

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.