KLP Kapitalforvaltning AS Purchases Shares of 3,300 Kirby Co. (NYSE:KEX)

KLP Kapitalforvaltning AS acquired a new stake in Kirby Co. (NYSE:KEX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,300 shares of the shipping company's stock, valued at approximately $349,000.

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Kirby by 0.7% during the third 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 last quarter. Geode Capital Management LLC lifted its position in Kirby by 0.3% during 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 during the period. Victory Capital Management Inc. lifted its position in Kirby by 10.2% during the 4th quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company's stock worth $55,620,000 after acquiring an additional 48,475 shares during the period. Bank of New York Mellon Corp increased its holdings 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. Finally, Artemis Investment Management LLP raised its stake in shares of Kirby by 112.0% during the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock worth $40,504,000 after purchasing an additional 202,272 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KEX shares. Stifel Nicolaus lowered their price objective on shares of 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 downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Finally, Bank of America dropped their price target on shares of Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research note on Friday, March 28th.

Kirby Price Performance

KEX stock traded down $2.52 on Thursday, reaching $93.46. 616,014 shares of the company's stock were exchanged, compared to its average volume of 539,961. Kirby Co. has a twelve month low of $83.94 and a twelve month high of $132.21. 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 stock has a fifty day moving average of $100.87 and a 200-day moving average of $111.58. The firm has a market cap of $5.32 billion, a PE ratio of 19.03, a P/E/G ratio of 0.88 and a beta of 0.99.

Kirby (NYSE:KEX - Get Free Report) last posted 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 return on equity of 9.71% and a net margin of 8.78%. As a group, equities analysts predict that Kirby Co. will post 6.57 EPS for the current fiscal year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the business's 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 sale, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

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.