Cerity Partners LLC Sells 2,675 Shares of Kirby Co. (NYSE:KEX)

Cerity Partners LLC cut its position in Kirby Co. (NYSE:KEX - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,477 shares of the shipping company's stock after selling 2,675 shares during the period. Cerity Partners LLC's holdings in Kirby were worth $639,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KEX. Norges Bank bought a new stake in Kirby during the 4th quarter worth about $74,293,000. Franklin Resources Inc. grew its stake in shares of Kirby by 848.5% during the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock valued at $41,648,000 after purchasing an additional 352,144 shares during the last quarter. Artemis Investment Management LLP increased its holdings 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kirby in the fourth quarter valued at approximately $18,749,000. Finally, DAVENPORT & Co LLC bought a new position in Kirby in the 4th quarter worth approximately $16,390,000. 96.15% of the stock is owned by institutional investors.

Kirby Trading Up 1.2 %

Shares of NYSE:KEX traded up $1.14 during mid-day trading on Wednesday, reaching $95.91. The stock had a trading volume of 411,416 shares, compared to its average volume of 542,144. The firm has a 50 day simple moving average of $98.92 and a two-hundred day simple moving average of $110.04. Kirby Co. has a twelve month low of $83.94 and a twelve month high of $132.21. The firm has a market cap of $5.46 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results 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 net margin of 8.78% and a return on equity of 9.71%. On average, research analysts predict that Kirby Co. will post 6.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Kirby 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 value of $133,866.84. Following the completion of the sale, the vice president now directly owns 5,545 shares in the company, valued at $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KEX has been the subject of several research reports. StockNews.com cut Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Stifel Nicolaus lowered their price target 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. Finally, Bank of America dropped their target price 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.

Kirby 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.