Lecap Asset Management Ltd. Takes $1.35 Million Position in Kirby Co. (NYSE:KEX)

Lecap Asset Management Ltd. bought a new position in shares of Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,781 shares of the shipping company's stock, valued at approximately $1,352,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Artemis Investment Management LLP increased 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 acquiring an additional 202,272 shares during the period. Victory Capital Management Inc. boosted its holdings in Kirby by 68.7% in the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company's stock valued at $58,428,000 after purchasing an additional 194,410 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Kirby during the 4th quarter worth approximately $16,390,000. Charles Schwab Investment Management Inc. increased its position in Kirby by 27.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock worth $85,585,000 after purchasing an additional 152,146 shares during the period. Finally, Merewether Investment Management LP raised its stake in shares of Kirby by 48.7% during the 3rd quarter. Merewether Investment Management LP now owns 234,500 shares of the shipping company's stock worth $28,710,000 after buying an additional 76,800 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Price Performance

NYSE KEX traded up $0.02 during mid-day trading on Tuesday, hitting $107.68. The stock had a trading volume of 511,953 shares, compared to its average volume of 724,402. 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 company has a market cap of $6.18 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 0.89 and a beta of 1.19. The company has a 50 day simple moving average of $109.55 and a 200 day simple moving average of $117.07. Kirby Co. has a 52-week low of $83.24 and a 52-week high of $132.21.

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 the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.78%. Equities analysts forecast that Kirby Co. will post 6.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the sale, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the business's stock in a transaction dated 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 directly owns 15,488 shares of the company's stock, valued at $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KEX has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, January 31st. StockNews.com cut shares of Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kirby currently has an average 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.