Heartland Advisors Inc. Sells 9,281 Shares of Kirby Co. (NYSE:KEX)

Heartland Advisors Inc. trimmed its position in Kirby Co. (NYSE:KEX - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,037 shares of the shipping company's stock after selling 9,281 shares during the period. Heartland Advisors Inc. owned approximately 0.11% of Kirby worth $6,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Kirby by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock valued at $17,418,000 after acquiring an additional 30,713 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kirby by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company's stock worth $43,911,000 after purchasing an additional 10,486 shares in the last quarter. Artemis Investment Management LLP lifted its position in Kirby by 112.0% during the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock worth $40,504,000 after buying an additional 202,272 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Kirby by 24.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 29,659 shares of the shipping company's stock worth $3,143,000 after buying an additional 5,804 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Kirby during the 4th quarter worth about $18,749,000. 96.15% of the stock is owned by institutional investors and hedge funds.

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Kirby Stock Performance

Shares of KEX traded up $2.13 during mid-day trading on Wednesday, reaching $103.74. The company's stock had a trading volume of 249,085 shares, compared to its average volume of 530,048. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.90 billion, a P/E ratio of 21.13, a PEG ratio of 0.88 and a beta of 1.18. Kirby Co. has a 1-year low of $93.63 and a 1-year high of $132.21. The business has a 50-day simple moving average of $103.71 and a two-hundred day simple moving average of $113.39.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. As a group, equities research analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America reduced their price target on Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a research report on Friday, March 28th. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Finally, Stifel Nicolaus decreased their target price on shares of Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, January 31st. One 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 currently has an average rating of "Moderate Buy" and an average target price of $124.75.

Insider Buying and Selling at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were 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 owns 5,545 shares of the company's stock, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company's stock.

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.