VELA Investment Management LLC Boosts Stock Position in Kirby Co. (NYSE:KEX)

VELA Investment Management LLC raised its stake in Kirby Co. (NYSE:KEX - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,199 shares of the shipping company's stock after acquiring an additional 7,992 shares during the quarter. Kirby makes up 3.7% of VELA Investment Management LLC's portfolio, making the stock its biggest holding. VELA Investment Management LLC owned approximately 0.22% of Kirby worth $13,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock worth $25,000 after acquiring an additional 168 shares during the period. Empowered Funds LLC acquired a new position in Kirby in the fourth quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in Kirby during the third quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new stake in Kirby during the third quarter worth about $52,000. Finally, R Squared Ltd purchased a new position in shares of Kirby in the 4th quarter worth about $76,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Performance

NYSE KEX traded down $1.31 on Tuesday, hitting $98.94. The stock had a trading volume of 675,318 shares, compared to its average volume of 672,701. 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 company's 50-day moving average is $106.69 and its two-hundred day moving average is $115.94. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 0.88 and a beta of 1.19. Kirby Co. has a one year low of $86.02 and a one year high of $132.21.

Remove Ads

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 for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. On average, analysts expect that Kirby Co. will post 6.57 earnings per share for the current year.

Insider Buying and Selling at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 5,545 shares of the company's stock, valued at approximately $596,697.45. This represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on KEX. Stifel Nicolaus cut their price objective on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Kirby currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.25.

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.