Bessemer Group Inc. increased its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 233,455 shares of the shipping company's stock after purchasing an additional 9,242 shares during the period. Bessemer Group Inc. owned approximately 0.41% of Kirby worth $24,700,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in Kirby by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company's stock worth $186,488,000 after buying an additional 28,259 shares in the last quarter. State Street Corp boosted its position in shares of Kirby by 0.7% in the 3rd quarter. State Street Corp now owns 1,667,520 shares of the shipping company's stock valued at $204,154,000 after purchasing an additional 12,337 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kirby by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 961,303 shares of the shipping company's stock valued at $117,724,000 after acquiring an additional 2,784 shares during the period. Norges Bank acquired a new stake in shares of Kirby during the fourth quarter worth about $74,293,000. Finally, Victory Capital Management Inc. increased its position in Kirby by 10.2% in the 4th quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company's stock valued at $55,620,000 after acquiring an additional 48,475 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on KEX shares. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Bank of America cut their price objective on shares of Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, 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 note on Friday, January 31st.
View Our Latest Report on KEX
Insiders Place Their Bets
In related news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction dated 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 directly owns 5,545 shares in the company, valued at approximately $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.
Kirby Price Performance
Shares of Kirby stock traded down $0.33 on Tuesday, hitting $95.72. The company's stock had a trading volume of 193,922 shares, compared to its average volume of 644,284. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $100.41 and a 200-day moving average price of $111.11. Kirby Co. has a 52-week low of $83.94 and a 52-week high of $132.21. The company has a market capitalization of $5.45 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99.
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 the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. On average, equities research analysts expect that Kirby Co. will post 6.57 earnings per share for the current fiscal year.
About Kirby
(
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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