Skylands Capital LLC Invests $3.59 Million in Kirby Co. (NYSE:KEX)

Skylands Capital LLC purchased a new stake in shares of Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 33,950 shares of the shipping company's stock, valued at approximately $3,592,000. Skylands Capital LLC owned approximately 0.06% of Kirby at the end of the most recent reporting period.

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

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Insider Activity

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 5,545 shares in the company, valued at $596,697.45. This represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Kirby Stock Performance

Shares of KEX stock traded up $0.20 during trading on Thursday, reaching $102.31. 498,620 shares of the company's stock traded hands, compared to its average volume of 674,532. The firm's 50-day moving average is $106.88 and its 200 day moving average is $116.26. The company has a market capitalization of $5.84 billion, a P/E ratio of 20.84, a PEG ratio of 0.88 and a beta of 1.19. Kirby Co. has a 1 year low of $86.02 and a 1 year high of $132.21. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX - Get Free Report) last posted its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (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%. Equities research analysts expect that Kirby Co. will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.