Fayez Sarofim & Co Purchases 2,181 Shares of Kirby Co. (NYSE:KEX)

Fayez Sarofim & Co increased its position in Kirby Co. (NYSE:KEX) by 21.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,278 shares of the shipping company’s stock after acquiring an additional 2,181 shares during the quarter. Fayez Sarofim & Co’s holdings in Kirby were worth $1,299,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Stifel Financial Corp raised its stake in shares of Kirby by 0.5% during the fourth quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company’s stock valued at $3,073,000 after acquiring an additional 138 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in Kirby by 3.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 33,535 shares of the shipping company’s stock worth $3,548,000 after buying an additional 1,086 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Kirby by 7.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,681 shares of the shipping company’s stock valued at $813,000 after buying an additional 539 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Kirby by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 32,368 shares of the shipping company’s stock valued at $3,425,000 after buying an additional 2,440 shares during the period. Finally, Natixis bought a new position in shares of Kirby during the fourth quarter worth about $1,177,000. Institutional investors own 96.15% of the company’s stock.

Kirby Price Performance

Kirby stock opened at $92.94 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $99.18 and its 200 day simple moving average is $110.14. Kirby Co. has a 12 month low of $83.94 and a 12 month high of $132.21. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.88 and a beta of 0.99.

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

Insider Activity at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now owns 5,545 shares of the company’s stock, valued at $596,697.45. The trade was a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. 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. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Stifel Nicolaus reduced their price target on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, January 31st.

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.