7,892 Shares in Kirby Co. (NYSE:KEX) Purchased by Calamos Advisors LLC

Calamos Advisors LLC purchased a new position in shares of Kirby Co. (NYSE:KEX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,892 shares of the shipping company's stock, valued at approximately $835,000.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Kirby by 27.5% during the third quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock worth $17,418,000 after buying an additional 30,713 shares during the last quarter. Creative Planning raised its stake in Kirby by 2.2% in the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company's stock valued at $818,000 after acquiring an additional 147 shares during the period. Atria Investments Inc boosted its position in Kirby by 27.5% during the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company's stock worth $4,328,000 after purchasing an additional 7,629 shares during the period. Advantage Alpha Capital Partners LP increased its holdings in shares of Kirby by 51.2% in 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 purchasing an additional 16,497 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of 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 purchasing an additional 202,272 shares during the period. Institutional investors own 96.15% of the company's stock.

Insider Activity 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 shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the transaction, the vice president now owns 5,545 shares of the company's stock, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christian G. O'neil sold 15,041 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now directly owns 7,746 shares of the company's stock, valued at approximately $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,285 shares of company stock valued at $3,114,877 in the last quarter. Insiders own 1.50% of the company's stock.

Kirby Price Performance

Shares of NYSE KEX traded down $0.83 during trading hours on Friday, hitting $106.32. 520,856 shares of the stock were exchanged, compared to its average volume of 728,154. Kirby Co. has a 1-year low of $83.24 and a 1-year high of $132.21. The company has a market cap of $6.10 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 0.89 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 company's fifty day simple moving average is $109.89 and its two-hundred day simple moving average is $117.23.

Kirby (NYSE:KEX - Get Free Report) last issued 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 net margin of 8.78% and a return on equity of 9.78%. On average, sell-side analysts predict that Kirby Co. will post 6.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, January 31st. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. One 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, Kirby presently has a consensus rating of "Moderate Buy" and a consensus 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.