Teacher Retirement System of Texas cut its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,145 shares of the shipping company's stock after selling 8,731 shares during the quarter. Teacher Retirement System of Texas' holdings in Kirby were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 period. Raymond James Financial Inc. acquired a new position in shares of Kirby in the 4th quarter worth approximately $18,749,000. DAVENPORT & Co LLC purchased a new position in shares of Kirby during the 4th quarter worth approximately $16,390,000. Allspring Global Investments Holdings LLC increased its holdings in Kirby by 92.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company's stock valued at $23,247,000 after purchasing an additional 106,411 shares during the last quarter. Finally, Empire Life Investments Inc. purchased a new stake in Kirby in the fourth quarter valued at approximately $10,442,000. 96.15% of the stock is owned by institutional investors and hedge funds.
Kirby Stock Down 9.9 %
Shares of NYSE KEX traded down $10.21 during mid-day trading on Thursday, hitting $92.94. The company had a trading volume of 599,395 shares, compared to its average volume of 532,762. The company has a market capitalization of $5.29 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. The business's 50-day simple moving average is $103.23 and its 200 day simple moving average is $113.18. Kirby Co. has a 1-year low of $92.87 and a 1-year high of $132.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05.
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 (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. On average, analysts predict that Kirby Co. will post 6.57 earnings per share for the current year.
Insiders Place Their Bets
In other Kirby news, VP Scott P. Miller sold 1,244 shares of the firm'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 directly owns 5,545 shares in the company, valued at $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on KEX. Bank of America dropped their price objective on Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Stifel Nicolaus dropped their target price on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $124.75.
Read Our Latest Stock Analysis on KEX
Kirby Company Profile
(
Free Report)
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.
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