Alliancebernstein L.P. Has $141.46 Million Stock Position in Kirby Co. (NYSE:KEX)

Alliancebernstein L.P. cut its position in Kirby Co. (NYSE:KEX) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,337,073 shares of the shipping company’s stock after selling 8,498 shares during the period. Alliancebernstein L.P. owned 2.33% of Kirby worth $141,462,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in shares of Kirby in the 4th quarter worth approximately $25,000. R Squared Ltd acquired a new position in Kirby in the fourth quarter worth $76,000. Virtus Fund Advisers LLC grew its holdings in shares of Kirby by 38.8% during the third quarter. Virtus Fund Advisers LLC now owns 833 shares of the shipping company’s stock worth $102,000 after purchasing an additional 233 shares during the last quarter. Signaturefd LLC increased its stake in shares of Kirby by 13.1% in the fourth quarter. Signaturefd LLC now owns 1,746 shares of the shipping company’s stock valued at $185,000 after buying an additional 202 shares in the last quarter. Finally, Hilltop Holdings Inc. bought a new position in shares of Kirby in the third quarter valued at about $202,000. 96.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the transaction, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KEX has been the subject of several research reports. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Bank of America lowered their price target on shares of Kirby from $133.00 to $123.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Stifel Nicolaus reduced their price objective on Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, January 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.75.

Kirby Stock Up 0.7 %

Shares of NYSE:KEX opened at $101.73 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a 50 day moving average of $103.71 and a 200-day moving average of $113.39. Kirby Co. has a one year low of $93.63 and a one year high of $132.21.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. On average, sell-side analysts forecast that Kirby Co. will post 6.57 earnings per share for the current year.

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.