Kirby Co. (NYSE:KEX) Holdings Cut by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 45.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,037 shares of the shipping company's stock after selling 10,739 shares during the quarter. Meeder Asset Management Inc.'s holdings in Kirby were worth $1,596,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KEX. Janus Henderson Group PLC increased its holdings in Kirby by 10.5% during the 1st quarter. Janus Henderson Group PLC now owns 955,587 shares of the shipping company's stock valued at $91,086,000 after acquiring an additional 90,586 shares in the last quarter. Encompass Capital Advisors LLC lifted its stake in Kirby by 33.9% in the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock valued at $106,246,000 after buying an additional 224,802 shares in the last quarter. Hood River Capital Management LLC increased its position in Kirby by 5.7% during the second quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company's stock worth $97,255,000 after buying an additional 43,685 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of Kirby in the second quarter valued at $65,928,000. Finally, Millennium Management LLC boosted its stake in shares of Kirby by 13.1% during the second quarter. Millennium Management LLC now owns 533,326 shares of the shipping company's stock valued at $63,855,000 after acquiring an additional 61,573 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Trading Up 0.8 %

Shares of NYSE KEX traded up $1.00 during midday trading on Wednesday, hitting $129.30. The stock had a trading volume of 410,956 shares, compared to its average volume of 455,447. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby Co. has a 1-year low of $72.11 and a 1-year high of $132.21. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 0.76 and a beta of 1.17. The company has a fifty day moving average price of $122.99 and a 200 day moving average price of $120.14.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. During the same period in the previous year, the firm earned $1.05 earnings per share. Kirby's revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Kirby Co. will post 5.45 earnings per share for the current year.

Insider Buying and Selling at Kirby

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the sale, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. This trade represents a 29.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares of the company's stock, valued at approximately $668,131.20. This trade represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,596 shares of company stock valued at $7,515,760 over the last three months. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KEX. Bank of America lifted their price target on shares of Kirby from $138.00 to $141.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. StockNews.com cut Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.80.

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.