Stephens Inc. AR Has $1.16 Million Position in Kirby Co. (NYSE:KEX)

Stephens Inc. AR decreased its stake in Kirby Co. (NYSE:KEX) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,937 shares of the shipping company’s stock after selling 397 shares during the period. Stephens Inc. AR’s holdings in Kirby were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Artemis Investment Management LLP lifted its position in shares of Kirby by 112.0% in the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock worth $40,504,000 after purchasing an additional 202,272 shares during the period. Victory Capital Management Inc. lifted its holdings in Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock valued at $58,428,000 after buying an additional 194,410 shares during the period. DAVENPORT & Co LLC bought a new stake in Kirby during the fourth quarter valued at $16,390,000. Charles Schwab Investment Management Inc. grew its holdings in Kirby by 27.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock worth $85,585,000 after acquiring an additional 152,146 shares during the period. Finally, Merewether Investment Management LP raised its position in shares of Kirby by 48.7% in the 3rd quarter. Merewether Investment Management LP now owns 234,500 shares of the shipping company’s stock worth $28,710,000 after acquiring an additional 76,800 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KEX has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on shares of Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kirby currently has an average rating of “Moderate Buy” and an average price target of $129.25.

Insider Activity

In related news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total value of $133,866.84. Following the completion of the transaction, the vice president now directly owns 5,545 shares of the company’s stock, valued at $596,697.45. This 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 link. Also, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total value of $1,025,680.00. Following the completion of the transaction, the director now owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Kirby Trading Down 1.5 %

Kirby stock opened at $106.00 on Thursday. The stock has a market cap of $6.08 billion, a P/E ratio of 21.59, a PEG ratio of 0.89 and a beta of 1.19. Kirby Co. has a fifty-two week low of $83.24 and a fifty-two week high of $132.21. The firm’s fifty day moving average price is $109.24 and its 200-day moving average price is $116.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

Kirby (NYSE:KEX) last announced 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 net margin of 8.78% and a return on equity of 9.78%. Equities research analysts forecast that Kirby Co. will post 6.54 earnings per share for the current fiscal year.

About Kirby

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.