Arrowstreet Capital Limited Partnership decreased its holdings in Kirby Co. (NYSE:KEX - Free Report) by 66.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,869 shares of the shipping company's stock after selling 127,550 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.11% of Kirby worth $6,863,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of KEX. State Street Corp raised its stake in shares of Kirby by 0.7% during the 3rd quarter. State Street Corp now owns 1,667,520 shares of the shipping company's stock worth $204,154,000 after buying an additional 12,337 shares during the period. Geode Capital Management LLC increased its holdings in Kirby by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 961,303 shares of the shipping company's stock worth $117,724,000 after acquiring an additional 2,784 shares in the last quarter. Norges Bank acquired a new position in Kirby during the fourth quarter worth $74,293,000. Victory Capital Management Inc. lifted its holdings in Kirby by 10.2% during the fourth quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company's stock valued at $55,620,000 after purchasing an additional 48,475 shares in the last quarter. Finally, Bank of New York Mellon Corp grew 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 valued at $43,911,000 after purchasing an additional 10,486 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.
Kirby Price Performance
KEX traded up $3.37 on Friday, reaching $96.59. 697,365 shares of the company's stock were exchanged, compared to its average volume of 541,465. The stock has a market cap of $5.50 billion, a PE ratio of 19.67, a P/E/G ratio of 0.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. Kirby Co. has a twelve month low of $83.94 and a twelve month high of $132.21. The stock's fifty day moving average price is $100.66 and its 200-day moving average price is $111.39.
Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Sell-side analysts expect that Kirby Co. will post 6.57 EPS for the current year.
Insiders Place Their Bets
In other news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction on 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 owns 5,545 shares in the company, valued at $596,697.45. The trade was a 18.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
KEX has been the subject of several research analyst reports. Bank of America reduced their price target 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. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Finally, Stifel Nicolaus dropped their price target on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, January 31st.
Check Out Our Latest Report on Kirby
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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