Logan Capital Management Inc. trimmed its holdings in Kirby Co. (NYSE:KEX) by 25.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,048 shares of the shipping company’s stock after selling 2,061 shares during the period. Logan Capital Management Inc.’s holdings in Kirby were worth $404,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of KEX. Dimensional Fund Advisors LP grew its stake in Kirby by 12.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock valued at $143,380,000 after acquiring an additional 246,064 shares during the period. Schroder Investment Management Group grew its stake in Kirby by 42.6% in the third quarter. Schroder Investment Management Group now owns 673,103 shares of the shipping company’s stock valued at $45,199,000 after acquiring an additional 201,037 shares during the period. First Trust Advisors LP grew its stake in Kirby by 34.9% in the third quarter. First Trust Advisors LP now owns 424,076 shares of the shipping company’s stock valued at $27,968,000 after acquiring an additional 109,735 shares during the period. BlackRock Inc. grew its stake in Kirby by 1.3% in the fourth quarter. BlackRock Inc. now owns 4,763,004 shares of the shipping company’s stock valued at $318,169,000 after acquiring an additional 61,526 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Kirby by 44.2% in the third quarter. Wells Fargo & Company MN now owns 198,911 shares of the shipping company’s stock valued at $13,118,000 after acquiring an additional 60,976 shares during the period. 95.50% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Monte J. Miller sold 2,336 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $77.10, for a total transaction of $180,105.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dorman Lynn Strahan sold 1,665 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $74.56, for a total value of $124,142.40. The disclosure for this sale can be found here. Insiders have sold 11,430 shares of company stock worth $854,762 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Kirby from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, February 6th. Stephens set a $89.00 price target on Kirby and gave the company a “hold” rating in a report on Monday, February 5th. Evercore ISI upgraded Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 price target on the stock in a report on Thursday, February 1st. Bank of America boosted their price target on Kirby from $66.00 to $69.00 and gave the company an “underperform” rating in a report on Thursday, February 1st. Finally, Gabelli started coverage on Kirby in a report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Kirby presently has an average rating of “Hold” and a consensus target price of $79.40.
Shares of Kirby Co. (KEX) opened at $76.45 on Friday. The company has a market capitalization of $4,560.00, a PE ratio of 36.40, a PEG ratio of 2.17 and a beta of 1.03. Kirby Co. has a twelve month low of $59.25 and a twelve month high of $80.90. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.36.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $708.10 million for the quarter, compared to analyst estimates of $612.61 million. Kirby had a return on equity of 4.37% and a net margin of 14.14%. The company’s quarterly revenue was up 62.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. sell-side analysts anticipate that Kirby Co. will post 2.79 EPS for the current year.
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Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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