Oppenheimer & Co. Inc. Lowers Position in Kirby Co. (NYSE:KEX)

Oppenheimer & Co. Inc. decreased its stake in shares of Kirby Co. (NYSE:KEXFree Report) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,100 shares of the shipping company’s stock after selling 400 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kirby were worth $1,002,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Morgan Stanley boosted its position in Kirby by 923.2% during the 4th quarter. Morgan Stanley now owns 4,248,727 shares of the shipping company’s stock valued at $273,406,000 after acquiring an additional 3,833,471 shares in the last quarter. Norges Bank purchased a new stake in Kirby in the fourth quarter worth $42,762,000. Jennison Associates LLC raised its holdings in Kirby by 31.6% in the second quarter. Jennison Associates LLC now owns 1,507,817 shares of the shipping company’s stock worth $116,027,000 after purchasing an additional 362,282 shares in the last quarter. Encompass Capital Advisors LLC raised its holdings in Kirby by 144.8% in the second quarter. Encompass Capital Advisors LLC now owns 507,526 shares of the shipping company’s stock worth $39,054,000 after purchasing an additional 300,187 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Kirby by 64.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 576,527 shares of the shipping company’s stock valued at $41,620,000 after buying an additional 225,645 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Kirby Stock Performance

Shares of KEX opened at $84.31 on Thursday. Kirby Co. has a 52 week low of $64.92 and a 52 week high of $87.52. The company has a quick ratio of 1.09, a current ratio of 1.88 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.98 billion, a P/E ratio of 22.66, a P/E/G ratio of 1.41 and a beta of 1.18. The business’s 50 day moving average price is $78.26 and its 200-day moving average price is $79.78.

Kirby (NYSE:KEXGet Free Report) last released its earnings results on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.03 by $0.01. Kirby had a return on equity of 7.15% and a net margin of 7.21%. The business had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. During the same period in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that Kirby Co. will post 4.97 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other Kirby news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at $79,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Kirby news, CEO David W. Grzebinski sold 4,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $76.78, for a total transaction of $307,120.00. Following the sale, the chief executive officer now directly owns 60,006 shares in the company, valued at approximately $4,607,260.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction on Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $79,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,565 shares of company stock valued at $1,303,695. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Kirby in a research report on Monday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.33.

Read Our Latest Stock Analysis on KEX

Kirby Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding KEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirby Co. (NYSE:KEXFree Report).

Institutional Ownership by Quarter for Kirby (NYSE:KEX)

Receive News & Ratings for Kirby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby and related companies with MarketBeat.com's FREE daily email newsletter.