Cannell & Spears LLC Lowers Stock Position in Kirby Co. (NYSE:KEX)

Cannell & Spears LLC cut its holdings in shares of Kirby Co. (NYSE:KEX) by 87.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,626 shares of the shipping company’s stock after selling 246,894 shares during the period. Cannell & Spears LLC’s holdings in Kirby were worth $3,663,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KEX. Axiom Investors LLC DE boosted its position in Kirby by 33.4% during the 4th quarter. Axiom Investors LLC DE now owns 118,768 shares of the shipping company’s stock valued at $12,566,000 after acquiring an additional 29,736 shares in the last quarter. Wellington Management Group LLP boosted its position in Kirby by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company’s stock valued at $186,488,000 after purchasing an additional 28,259 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in Kirby by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 20,191 shares of the shipping company’s stock valued at $2,136,000 after purchasing an additional 245 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Kirby in the fourth quarter valued at about $3,746,000. Finally, Norges Bank bought a new position in Kirby in the fourth quarter worth about $74,293,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Up 0.5 %

KEX stock opened at $101.11 on Tuesday. The stock has a market capitalization of $5.75 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Kirby Co. has a 52 week low of $93.63 and a 52 week high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $103.93 and a 200 day moving average of $113.51.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 EPS 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 earnings per share for the current year.

Insider Activity

In related news, VP Scott P. Miller sold 1,244 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the sale, the vice president now owns 5,545 shares in the company, valued at $596,697.45. This 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 available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KEX. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Bank of America cut their price target on shares of Kirby from $133.00 to $123.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stifel Nicolaus decreased their price objective on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.75.

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.