Vaughan Nelson Investment Management L.P. Lowers Stock Position in Kirby Co. (NYSE:KEX)

Vaughan Nelson Investment Management L.P. lessened its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 557,547 shares of the shipping company's stock after selling 94,055 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.96% of Kirby worth $68,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEX. SG Americas Securities LLC lifted its stake in Kirby by 53.9% in the first quarter. SG Americas Securities LLC now owns 5,372 shares of the shipping company's stock worth $512,000 after acquiring an additional 1,881 shares during the period. Sei Investments Co. lifted its position in Kirby by 32.4% during the first quarter. Sei Investments Co. now owns 66,833 shares of the shipping company's stock valued at $6,371,000 after buying an additional 16,373 shares during the period. Orion Portfolio Solutions LLC lifted its position in Kirby by 2.9% during the first quarter. Orion Portfolio Solutions LLC now owns 18,370 shares of the shipping company's stock valued at $1,751,000 after buying an additional 523 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Kirby during the first quarter valued at $1,031,000. Finally, Bessemer Group Inc. lifted its position in Kirby by 23.2% during the first quarter. Bessemer Group Inc. now owns 250,710 shares of the shipping company's stock valued at $23,897,000 after buying an additional 47,134 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America raised their price objective on Kirby from $138.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $123.80.

Kirby Stock Performance

NYSE KEX traded down $1.91 during trading hours on Friday, hitting $128.04. The company's stock had a trading volume of 325,575 shares, compared to its average volume of 494,855. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $132.04. The company's 50 day simple moving average is $122.45 and its two-hundred day simple moving average is $119.81. The company has a market cap of $7.35 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.

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

Insider Buying and Selling

In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the transaction, the chief executive officer now directly owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O'neil sold 14,031 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total value of $1,729,881.99. Following the completion of the transaction, the chief operating officer now directly owns 12,746 shares in the company, valued at $1,571,454.34. The trade was a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,596 shares of company stock worth $7,515,760. 1.50% of the stock is owned by corporate insiders.

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.