Bank of New York Mellon Corp Grows Position in Kirby Co. (NYSE:KEX)

Bank of New York Mellon Corp increased its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,042 shares of the shipping company's stock after purchasing an additional 10,486 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of Kirby worth $43,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of KEX. JPMorgan Chase & Co. grew its position in Kirby by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock worth $17,418,000 after purchasing an additional 30,713 shares during the period. Atria Investments Inc grew its holdings in shares of Kirby by 27.5% in the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company's stock worth $4,328,000 after acquiring an additional 7,629 shares during the period. Advantage Alpha Capital Partners LP increased its position in Kirby by 51.2% during the third quarter. Advantage Alpha Capital Partners LP now owns 48,693 shares of the shipping company's stock valued at $5,961,000 after acquiring an additional 16,497 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Kirby by 112.0% in the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock valued at $40,504,000 after acquiring an additional 202,272 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Kirby by 24.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 29,659 shares of the shipping company's stock worth $3,143,000 after purchasing an additional 5,804 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

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Kirby Price Performance

Shares of KEX traded down $1.98 during mid-day trading on Monday, reaching $95.15. The stock had a trading volume of 812,064 shares, compared to its average volume of 673,684. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 0.88 and a beta of 1.18. Kirby Co. has a 12 month low of $86.02 and a 12 month high of $132.21. The business has a fifty day moving average of $106.05 and a 200 day moving average of $115.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45.

Kirby (NYSE:KEX - Get Free Report) last announced 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%. Equities analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Insider Activity at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now directly owns 5,545 shares in the company, valued at approximately $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 can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KEX shares. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Stifel Nicolaus reduced their target price on shares of Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a report on Friday, January 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $129.25.

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.