Sei Investments Co. Cuts Stake in Kirby Co. (NYSE:KEX)

Sei Investments Co. cut its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,124 shares of the shipping company's stock after selling 16,358 shares during the quarter. Sei Investments Co. owned about 0.18% of Kirby worth $10,699,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Kirby by 27.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock worth $17,418,000 after purchasing an additional 30,713 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Kirby by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company's stock worth $43,911,000 after buying an additional 10,486 shares in the last quarter. Artemis Investment Management LLP boosted its stake in 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 buying an additional 202,272 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Kirby by 24.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 29,659 shares of the shipping company's stock valued at $3,143,000 after buying an additional 5,804 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Kirby in the 4th quarter worth $18,749,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Stifel Nicolaus dropped their price target on shares of Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Bank of America reduced their price target on shares of Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $124.75.

Kirby Trading Down 9.9 %

KEX stock traded down $10.21 during mid-day trading on Thursday, hitting $92.94. 599,395 shares of the company were exchanged, compared to its average volume of 532,762. Kirby Co. has a 12-month low of $92.87 and a 12-month high of $132.21. The firm has a market capitalization of $5.29 billion, a P/E ratio of 18.93, a PEG ratio of 0.88 and a beta of 1.18. The business has a fifty day simple moving average of $103.23 and a 200-day simple moving average of $113.18. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.71% and a net margin of 8.78%. On average, equities research analysts predict that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

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 stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the sale, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company's stock.

Kirby 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.