Barclays PLC Boosts Stake in Kirby Co. (KEX)

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Barclays PLC lifted its position in Kirby Co. (NYSE:KEX) by 14.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,221 shares of the shipping company’s stock after purchasing an additional 4,663 shares during the quarter. Barclays PLC’s holdings in Kirby were worth $2,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Kirby by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 1,019,019 shares of the shipping company’s stock worth $83,815,000 after purchasing an additional 83,099 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Kirby by 71.3% in the third quarter. Janus Henderson Group PLC now owns 13,700 shares of the shipping company’s stock worth $1,127,000 after purchasing an additional 5,700 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kirby by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 578,797 shares of the shipping company’s stock worth $47,608,000 after purchasing an additional 19,584 shares in the last quarter. BlackRock Inc. lifted its position in shares of Kirby by 2.0% in the third quarter. BlackRock Inc. now owns 5,063,560 shares of the shipping company’s stock worth $416,479,000 after purchasing an additional 101,346 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Kirby by 1.3% in the third quarter. American International Group Inc. now owns 109,631 shares of the shipping company’s stock worth $9,017,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

A number of analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of Kirby in a research report on Friday, January 25th. They issued a “neutral” rating and a $67.40 price target for the company. Wells Fargo & Co lowered shares of Kirby from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 10th. ValuEngine lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. Zacks Investment Research lowered shares of Kirby from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Finally, TheStreet lowered shares of Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.28.

Shares of KEX opened at $76.44 on Friday. The company has a market cap of $4.55 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.80. Kirby Co. has a twelve month low of $60.63 and a twelve month high of $94.05.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, January 31st. The shipping company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. The firm had revenue of $721.49 million for the quarter, compared to analyst estimates of $698.14 million. Kirby had a net margin of 2.64% and a return on equity of 5.43%. Analysts predict that Kirby Co. will post 3.57 earnings per share for the current year.

In related news, CEO David W. Grzebinski sold 8,052 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $75.24, for a total transaction of $605,832.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Monte J. Miller sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $74.35, for a total transaction of $446,100.00. Following the transaction, the director now directly owns 22,758 shares in the company, valued at approximately $1,692,057.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,876 shares of company stock worth $2,081,911. Insiders own 1.80% of the company’s stock.

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Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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