Van ECK Associates Corp Reduces Holdings in Kirby Co. (NYSE:KEX)

Van ECK Associates Corp lessened its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 193,390 shares of the shipping company's stock after selling 14,220 shares during the quarter. Van ECK Associates Corp owned approximately 0.34% of Kirby worth $20,461,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KEX. Artemis Investment Management LLP raised its holdings in Kirby by 112.0% in the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock valued at $40,504,000 after acquiring an additional 202,272 shares during the last quarter. Victory Capital Management Inc. increased its stake in Kirby by 68.7% during the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company's stock worth $58,428,000 after buying an additional 194,410 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Kirby in the fourth quarter worth $16,390,000. Charles Schwab Investment Management Inc. increased its position in shares of Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock worth $85,585,000 after acquiring an additional 152,146 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Kirby by 92.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company's stock valued at $23,247,000 after acquiring an additional 106,411 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Stock Up 1.7 %

Kirby stock traded up $1.89 during midday trading on Tuesday, reaching $110.30. The company's stock had a trading volume of 278,072 shares, compared to its average volume of 679,555. The company has a market cap of $6.33 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.89 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $108.29 and a 200-day simple moving average of $116.66. Kirby Co. has a fifty-two week low of $84.56 and a fifty-two week high of $132.21.

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 9.78% and a net margin of 8.78%. On average, research analysts expect that Kirby Co. will post 6.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus lowered their target price on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, January 31st. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $129.25.

Insider Transactions at Kirby

In related news, VP Scott P. Miller sold 1,244 shares of the business'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 sale, the vice president now directly owns 5,545 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the transaction, the director now owns 15,488 shares of the company's stock, valued at $1,985,716.48. This represents a 34.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Kirby Company 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.