Schroder Investment Management Group trimmed its position in Kirby Co. (NYSE:KEX - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,020 shares of the shipping company's stock after selling 40,344 shares during the quarter. Schroder Investment Management Group owned 0.50% of Kirby worth $30,455,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in KEX. Janney Montgomery Scott LLC lifted its stake in Kirby by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company's stock worth $895,000 after acquiring an additional 108 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Kirby by 0.5% in the 4th quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company's stock valued at $3,271,000 after purchasing an additional 140 shares in the last quarter. Signaturefd LLC lifted its position in shares of Kirby by 13.1% in the 4th quarter. Signaturefd LLC now owns 1,746 shares of the shipping company's stock worth $185,000 after purchasing an additional 202 shares during the period. Virtus Fund Advisers LLC lifted its position in shares of Kirby by 38.8% in the 3rd quarter. Virtus Fund Advisers LLC now owns 833 shares of the shipping company's stock worth $102,000 after purchasing an additional 233 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Kirby during the fourth quarter valued at approximately $25,000. Institutional investors own 96.15% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on KEX. Bank of America dropped their target price on Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Stifel Nicolaus cut their target price on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th.
Read Our Latest Research Report on KEX
Kirby Stock Down 4.0 %
Shares of KEX traded down $3.70 during midday trading on Friday, hitting $89.20. 1,175,353 shares of the company's stock traded hands, compared to its average volume of 536,526. 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 capitalization of $5.08 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. Kirby Co. has a 1 year low of $85.33 and a 1 year high of $132.21. The firm's fifty day moving average is $102.83 and its 200-day moving average is $112.82.
Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results 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 net margin of 8.78% and a return on equity of 9.71%. As a group, sell-side analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current year.
Insider Buying and Selling
In other Kirby 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 value 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 filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.
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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