State of Alaska Department of Revenue Trims Stock Holdings in Kirby Co. (NYSE:KEX)

State of Alaska Department of Revenue lessened its stake in shares of Kirby Co. (NYSE:KEX) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,546 shares of the shipping company’s stock after selling 180 shares during the period. State of Alaska Department of Revenue’s holdings in Kirby were worth $692,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. CWM LLC raised its holdings in Kirby by 186.2% in the third quarter. CWM LLC now owns 3,474 shares of the shipping company’s stock worth $425,000 after purchasing an additional 2,260 shares in the last quarter. Creative Planning raised its position in Kirby by 2.2% during the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock valued at $818,000 after acquiring an additional 147 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Kirby by 158.4% in the 3rd quarter. Blue Trust Inc. now owns 765 shares of the shipping company’s stock valued at $92,000 after purchasing an additional 469 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Kirby by 40.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 115,049 shares of the shipping company’s stock valued at $14,085,000 after acquiring an additional 33,267 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Kirby by 72.7% in the 3rd quarter. Signaturefd LLC now owns 1,544 shares of the shipping company’s stock valued at $189,000 after purchasing an additional 650 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KEX has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.25.

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction that occurred 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 approximately $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Ross Stewart sold 8,000 shares of Kirby stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the sale, the director now owns 15,488 shares in the company, valued at $1,985,716.48. This trade represents a 34.06 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Up 0.8 %

Shares of NYSE:KEX opened at $108.47 on Friday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 0.89 and a beta of 1.19. Kirby Co. has a 12-month low of $84.56 and a 12-month high of $132.21. The business has a 50-day moving average price of $108.69 and a 200 day moving average price of $116.85. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.78%. Sell-side analysts expect that Kirby Co. will post 6.54 EPS for the current year.

Kirby 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.